Autodesk (NASDAQ:ADSK) Price Target Raised to $361.00

Autodesk (NASDAQ:ADSK) had its price objective increased by Citigroup from $358.00 to $361.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the software company’s stock.

Several other equities analysts also recently commented on the stock. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Mizuho increased their price objective on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Royal Bank of Canada lifted their target price on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, Bank of America raised their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.10.

Autodesk Price Performance

NASDAQ ADSK opened at $291.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company’s 50 day moving average is $289.93 and its two-hundred day moving average is $258.15. The stock has a market cap of $62.76 billion, a price-to-earnings ratio of 57.92, a PEG ratio of 3.73 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $1.33 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts anticipate that Autodesk will post 5.79 earnings per share for the current year.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction 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 sale, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock valued at $549,333 over the last 90 days. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of large investors have recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of Autodesk during the 1st quarter worth $26,000. Olistico Wealth LLC purchased a new position in Autodesk during the 2nd quarter valued at about $26,000. Pacifica Partners Inc. raised its holdings in shares of Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the 3rd quarter worth approximately $27,000. Finally, Concord Wealth Partners bought a new position in shares of Autodesk during the third quarter valued at approximately $28,000. 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.