Autodesk (NASDAQ:ADSK) Price Target Raised to $308.00

Autodesk (NASDAQ:ADSK) had its price target lifted by BMO Capital Markets from $287.00 to $308.00 in a research note published on Wednesday, Marketbeat reports. The firm currently has a market perform rating on the software company’s stock.

A number of other analysts have also recently weighed in on the stock. Barclays raised their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Royal Bank of Canada raised their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Piper Sandler lifted their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, DA Davidson started coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.10.

Autodesk Trading Up 0.4 %

NASDAQ ADSK opened at $291.90 on Wednesday. The firm’s 50-day moving average is $289.93 and its two-hundred day moving average is $257.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The stock has a market capitalization of $62.76 billion, a P/E ratio of 57.92, a PEG ratio of 3.71 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Autodesk will post 5.74 earnings per share for the current year.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,936 shares of company stock worth $549,333. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marshall Financial Group LLC lifted its holdings in shares of Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after buying an additional 35 shares in the last quarter. Avitas Wealth Management LLC raised its stake in Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after purchasing an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in shares of Autodesk by 1.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Autodesk by 28.9% during the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock worth $54,000 after purchasing an additional 44 shares during the period. Finally, Johnson Investment Counsel Inc. raised its position in shares of Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after buying an additional 45 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

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.