Autodesk (NASDAQ:ADSK) Upgraded at Mizuho

Mizuho upgraded shares of Autodesk (NASDAQ:ADSK) from a neutral rating to an outperform rating in a report released on Tuesday, MarketBeat.com reports. Mizuho currently has $400.00 price target on the software company’s stock, up from their prior price target of $280.00.

Several other equities research analysts have also commented on ADSK. Barclays upped their target price on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Rosenblatt Securities lifted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets increased their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley lifted their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.50.

Autodesk Stock Performance

Shares of ADSK stock opened at $309.95 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a one year low of $195.32 and a one year high of $326.62. The business’s 50 day simple moving average is $299.38 and its 200 day simple moving average is $278.54. The stock has a market capitalization of $66.64 billion, a PE ratio of 61.50, a PEG ratio of 3.55 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, research analysts forecast that Autodesk will post 5.76 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction 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 sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Large investors have recently made changes to their positions in the business. Marshall Financial Group LLC lifted its stake in Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in shares of Autodesk by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Autodesk by 1.0% during the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after purchasing an additional 35 shares during the period. Grove Bank & Trust boosted its holdings in Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after purchasing an additional 37 shares during the last quarter. Finally, Journey Strategic Wealth LLC grew its position in Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after purchasing an additional 37 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.