Autodesk (NASDAQ:ADSK) Price Target Raised to $257.00 at Piper Sandler

Autodesk (NASDAQ:ADSK) had its target price boosted by analysts at Piper Sandler from $239.00 to $257.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the software company’s stock. Piper Sandler’s target price would suggest a potential downside of 0.48% from the stock’s current price.

ADSK has been the subject of a number of other research reports. KeyCorp reiterated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research note on Monday. BMO Capital Markets cut their price objective on Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Barclays lowered their target price on Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Bank of America decreased their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Finally, Citigroup raised their price objective on shares of Autodesk from $295.00 to $316.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $271.67.

Autodesk Trading Up 1.4 %

Shares of ADSK stock opened at $258.23 on Friday. The firm’s fifty day simple moving average is $245.35 and its 200 day simple moving average is $239.27. Autodesk has a 1 year low of $192.01 and a 1 year high of $279.53. The firm has a market capitalization of $55.65 billion, a P/E ratio of 55.89, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, sell-side analysts predict that Autodesk will post 5.55 EPS for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,931 shares of company stock worth $9,537,781. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk during the 4th quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in shares of Autodesk in the first quarter valued at $25,000. New Covenant Trust Company N.A. bought a new position in Autodesk in the 1st quarter valued at about $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the first quarter valued at about $26,000. Finally, Olistico Wealth LLC bought a new position in Autodesk during the 2nd quarter worth $26,000. 90.24% of the stock is owned by institutional investors.

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.