Autodesk, Inc. (NASDAQ:ADSK) Receives $331.50 Average Target Price from Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $331.50.

A number of research firms recently issued reports on ADSK. Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities raised their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Citigroup increased their target price on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Robert W. Baird increased their target price on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in shares of Autodesk during the fourth quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the third quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the third quarter worth approximately $28,000. Concord Wealth Partners purchased a new position in shares of Autodesk during the third quarter worth approximately $28,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Autodesk in the fourth quarter worth $37,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of ADSK stock opened at $311.34 on Friday. The firm has a 50-day moving average of $299.08 and a 200-day moving average of $279.34. The company has a market cap of $66.94 billion, a P/E ratio of 61.77, a P/E/G ratio of 3.59 and a beta of 1.42. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a one year low of $195.32 and a one year high of $326.62.

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

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.