Autodesk (NASDAQ:ADSK) Price Target Raised to $311.00

Autodesk (NASDAQ:ADSK) had its target price upped by Piper Sandler from $257.00 to $311.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software company’s stock.

ADSK has been the topic of several other reports. Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Barclays lifted their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird raised their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $315.10.

Autodesk Stock Up 0.4 %

ADSK opened at $291.90 on Wednesday. The business’s fifty day simple moving average is $289.93 and its 200 day simple moving average is $257.59. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The firm has a market cap of $62.76 billion, a P/E ratio of 57.92, a PEG ratio of 3.71 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. As a group, equities research analysts anticipate that Autodesk will post 5.74 EPS for the current fiscal year.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Autodesk by 7.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,783 shares of the software company’s stock worth $1,766,000 after acquiring an additional 448 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk in the 1st quarter valued at $25,000. Citizens Financial Group Inc. RI purchased a new position in Autodesk in the 1st quarter worth about $251,000. LRI Investments LLC acquired a new stake in Autodesk during the 1st quarter worth about $26,000. Finally, Swedbank AB purchased a new stake in Autodesk during the first quarter valued at about $39,054,000. 90.24% of the stock is owned by institutional investors.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.