Autodesk (NASDAQ:ADSK) Price Target Raised to $360.00

Autodesk (NASDAQ:ADSK) had its price objective boosted by Stifel Nicolaus from $340.00 to $360.00 in a report issued on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

Several other research firms have also recently commented on ADSK. 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 research report on Tuesday, September 3rd. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. BMO Capital Markets lifted their price objective on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, Piper Sandler boosted their target price on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.95.

Autodesk Trading Up 1.5 %

Shares of ADSK opened at $298.12 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $64.10 billion, a price-to-earnings ratio of 59.15, a PEG ratio of 3.62 and a beta of 1.43. The firm has a 50 day moving average price of $299.04 and a 200-day moving average price of $266.77. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, equities research analysts forecast that Autodesk will post 5.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’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 transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction 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. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,386 shares of company stock worth $403,308 in the last three months. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Autodesk

Institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. FMR LLC increased its holdings in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Principal Financial Group Inc. lifted its position in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after acquiring an additional 245,816 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Autodesk by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after purchasing an additional 81,314 shares during the last quarter. 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.