Autodesk (NASDAQ:ADSK) Price Target Raised to $325.00

Autodesk (NASDAQ:ADSK) had its price objective increased by Rosenblatt Securities from $295.00 to $325.00 in a report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the software company’s stock.

ADSK has been the topic of several other research reports. Scotiabank assumed coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. Mizuho set a $260.00 target price on shares of Autodesk in a research note on Friday, October 18th. KeyCorp increased their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Berenberg Bank boosted their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Finally, Bank of America increased their target price on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $315.10.

Autodesk Trading Up 0.4 %

NASDAQ:ADSK opened at $291.90 on Wednesday. The firm has a market capitalization of $62.76 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The business has a fifty day moving average price of $289.93 and a 200-day moving average price of $257.59. Autodesk has a one year low of $195.32 and a one year high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Autodesk will post 5.74 EPS for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed 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 on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock worth $549,333 over the last 90 days. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADSK. Franklin Resources Inc. lifted its stake in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after acquiring an additional 387,309 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Autodesk by 3.4% during the third quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock valued at $3,522,000 after purchasing an additional 421 shares during the period. Tidal Investments LLC increased its stake in Autodesk by 245.4% in the 3rd quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock worth $21,214,000 after buying an additional 54,712 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Autodesk during the 3rd quarter valued at about $4,751,000. Finally, World Investment Advisors LLC bought a new position in Autodesk in the 3rd quarter worth about $3,923,000. Hedge funds and other institutional investors 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.