Autodesk (NASDAQ:ADSK) Price Target Raised to $358.00

Autodesk (NASDAQ:ADSK) had its price objective lifted by Citigroup from $325.00 to $358.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the software company’s stock.

Several other analysts have also commented on ADSK. Barclays lifted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. KeyCorp boosted their target price on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. DA Davidson began coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. BMO Capital Markets boosted their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company boosted their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Price Performance

NASDAQ ADSK opened at $319.39 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 stock’s fifty day moving average price is $287.47 and its 200 day moving average price is $255.89. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a market cap of $68.67 billion, a price-to-earnings ratio of 65.32, a PEG ratio of 4.10 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 (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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was 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 worth $5,232,213 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Autodesk

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