Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00

Autodesk (NASDAQ:ADSK) had its price target lifted by KeyCorp from $325.00 to $330.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the software company’s stock.

A number of other brokerages have also issued reports on ADSK. Berenberg Bank boosted their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Mizuho set a $260.00 target price on shares of Autodesk in a report on Friday, October 18th. Royal Bank of Canada raised their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Wells Fargo & Company assumed coverage on Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price objective on the stock. Finally, BMO Capital Markets lifted their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Stock Performance

NASDAQ ADSK opened at $321.27 on Wednesday. The stock has a fifty day simple moving average of $286.44 and a 200-day simple moving average of $254.89. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market cap of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47. Autodesk has a twelve month low of $195.32 and a twelve month high of $321.90.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,232,213 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC bought a new position in Autodesk during the first quarter worth $26,000. Olistico Wealth LLC acquired a new position in Autodesk in the second quarter worth $26,000. Pacifica Partners Inc. increased its stake 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 bought a new stake in Autodesk during the third quarter valued at $27,000. Institutional investors own 90.24% of the company’s stock.

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.