Autodesk (NASDAQ:ADSK) Shares Up 2.8% on Analyst Upgrade

Autodesk, Inc. (NASDAQ:ADSK)’s stock price shot up 2.8% during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $316.00 to $325.00. Citigroup currently has a buy rating on the stock. Autodesk traded as high as $267.80 and last traded at $265.64. 410,643 shares were traded during trading, a decline of 75% from the average session volume of 1,650,208 shares. The stock had previously closed at $258.40.

Several other analysts also recently issued reports on ADSK. Barclays upped their price target on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Mizuho increased their target price on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. KeyCorp reissued an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research report on Monday, August 26th. Rosenblatt Securities upped their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Berenberg Bank lifted their price objective on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $292.17.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders have sold a total of 57,275 shares of company stock worth $14,220,661 in the last quarter. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk in the fourth quarter valued at about $25,000. Concord Wealth Partners purchased a new position in Autodesk in the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in Autodesk in the 1st quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk during the first quarter valued at approximately $26,000. Finally, Olistico Wealth LLC acquired a new position in shares of Autodesk during the second quarter worth $26,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.2 %

The firm’s 50 day moving average price is $246.66 and its two-hundred day moving average price is $239.07. The firm has a market capitalization of $55.56 billion, a PE ratio of 55.81, a P/E/G ratio of 3.45 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

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.