Autodesk (NASDAQ:ADSK) Price Target Raised to $375.00 at Morgan Stanley

Autodesk (NASDAQ:ADSK) had its target price increased by Morgan Stanley from $320.00 to $375.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America increased their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Berenberg Bank lifted their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Wells Fargo & Company started coverage on shares of Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price target on the stock. Finally, DA Davidson started coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Stock Down 0.6 %

Shares of NASDAQ:ADSK opened at $319.39 on Friday. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $68.67 billion, a PE ratio of 65.32, a PEG ratio of 4.10 and a beta of 1.47. The company has a 50 day moving average price of $287.47 and a two-hundred day moving average price of $255.89.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) 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 company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Analysts forecast that Autodesk will post 5.73 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 dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,280 shares of company stock valued at $5,232,213. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several hedge funds and other institutional investors have recently bought and sold shares of ADSK. CreativeOne Wealth LLC acquired a new stake in Autodesk in the 1st quarter worth about $414,000. EP Wealth Advisors LLC acquired a new position in shares of Autodesk in the 1st quarter valued at approximately $202,000. Axxcess Wealth Management LLC raised its position in shares of Autodesk by 61.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 2,022 shares of the software company’s stock valued at $527,000 after buying an additional 773 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Autodesk by 16.8% in the 1st quarter. Advisors Asset Management Inc. now owns 12,305 shares of the software company’s stock valued at $3,204,000 after buying an additional 1,766 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Autodesk by 20,050.0% in the 1st quarter. 1832 Asset Management L.P. now owns 2,015 shares of the software company’s stock valued at $525,000 after buying an additional 2,005 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.