Autodesk (NASDAQ:ADSK) Price Target Raised to $340.00

Autodesk (NASDAQ:ADSK) had its price objective boosted by Stifel Nicolaus from $320.00 to $340.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley reissued an “overweight” rating and issued a $320.00 target price on shares of Autodesk in a report on Monday, September 30th. Berenberg Bank increased their target price on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Mizuho set a $260.00 target price on Autodesk in a research note on Friday, October 18th. Piper Sandler increased their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Bank of America boosted their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Eight 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.20.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $299.15 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The business’s fifty day moving average price is $281.32 and its two-hundred day moving average price is $251.79. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The stock has a market capitalization of $64.32 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts predict that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new stake in Autodesk in the 1st quarter valued at $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk in the first quarter valued at about $26,000. Olistico Wealth LLC bought a new stake in Autodesk during the second quarter worth about $26,000. Pacifica Partners Inc. boosted its position in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in Autodesk during the third quarter valued at approximately $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.