Autodesk (NASDAQ:ADSK) Price Target Raised to $280.00

Autodesk (NASDAQ:ADSK) had its target price upped by Mizuho from $260.00 to $280.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the software company’s stock.

ADSK has been the subject of a number of other reports. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada upped their price objective on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. DA Davidson started coverage on Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 price target for the company. Morgan Stanley boosted their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Rosenblatt Securities lifted their price objective on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday. Eight investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Trading Down 8.6 %

Autodesk stock opened at $290.64 on Wednesday. Autodesk has a one year low of $195.32 and a one year high of $326.62. The business’s fifty day moving average is $289.02 and its 200 day moving average is $256.83. The stock has a market capitalization of $62.49 billion, a PE ratio of 59.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm posted $1.33 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Autodesk will post 5.73 EPS for the current year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at $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 is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, 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. In the last quarter, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADSK. Jag Capital Management LLC purchased a new position in shares of Autodesk during the third quarter worth approximately $13,861,000. Cetera Investment Advisers raised its position in Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after buying an additional 3,800 shares during the period. Bank of Montreal Can raised its holdings in shares of Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after acquiring an additional 73,363 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in Autodesk in the third quarter worth about $12,643,000. Hedge funds and other 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.