Autodesk (NASDAQ:ADSK) Price Target Increased to $260.00 by Analysts at Mizuho

Autodesk (NASDAQ:ADSK) had its price target lifted by Mizuho from $230.00 to $260.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the software company’s stock.

A number of other equities research analysts have also weighed in on the stock. Barclays reduced their target price on shares of Autodesk from $310.00 to $275.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Robert W. Baird lowered their price target on shares of Autodesk from $296.00 to $289.00 and set an outperform rating for the company in a report on Wednesday, May 29th. Citigroup boosted their price target on shares of Autodesk from $295.00 to $316.00 and gave the stock a buy rating in a research report on Monday, August 26th. Oppenheimer reiterated an outperform rating and set a $275.00 price objective on shares of Autodesk in a research report on Tuesday, June 18th. Finally, KeyCorp restated an overweight rating and issued a $305.00 target price on shares of Autodesk in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $283.33.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $258.40 on Friday. The firm has a 50 day moving average of $245.65 and a 200-day moving average of $239.40. The stock has a market capitalization of $55.69 billion, a PE ratio of 55.93, a PEG 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 has a 12 month low of $192.01 and a 12 month high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (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 analyst estimates of $1.48 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 EPS. On average, equities research analysts predict that Autodesk will post 5.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction 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 sale, the director now directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,931 shares of company stock worth $9,537,781. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the last quarter. Norges Bank bought a new position in shares of Autodesk during the 4th quarter worth approximately $619,404,000. Ninety One UK Ltd lifted its position in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Autodesk by 366.5% in the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after acquiring an additional 662,339 shares in the last quarter. 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.