Autodesk (NASDAQ:ADSK) Given New $350.00 Price Target at Oppenheimer

Autodesk (NASDAQ:ADSK) had its price objective increased by Oppenheimer from $300.00 to $350.00 in a research report sent to investors on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the software company’s stock.

Other research analysts have also recently issued reports about the stock. Berenberg Bank increased their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho set a $260.00 target price on shares of Autodesk in a report on Friday, October 18th. Finally, Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Trading 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 market capitalization of $68.67 billion, a P/E ratio of 65.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. The company has a 50-day simple moving average of $287.47 and a 200 day simple moving average of $255.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last released its quarterly 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. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Sell-side analysts forecast that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly 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 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 quarter. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new position in Autodesk during the first quarter worth about $25,000. LRI Investments LLC purchased a new position in Autodesk in the first quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new position in Autodesk in the third quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Autodesk in the third quarter valued at about $28,000. Finally, Concord Wealth Partners purchased a new position in Autodesk in the third quarter valued at about $28,000. 90.24% of the stock is owned by institutional investors.

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.