Autodesk (NASDAQ:ADSK) PT Raised to $313.00 at Royal Bank of Canada

Autodesk (NASDAQ:ADSK) had its target price hoisted by equities researchers at Royal Bank of Canada from $290.00 to $313.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the software company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 21.13% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Oppenheimer increased their target price on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday. Barclays lowered their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Rosenblatt Securities restated a “buy” rating and set a $290.00 target price on shares of Autodesk in a research report on Wednesday, June 12th. Bank of America decreased their price target on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Finally, KeyCorp reissued an “overweight” rating and set a $305.00 price objective on shares of Autodesk in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average target price of $283.33.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $258.40 on Friday. The firm’s 50-day moving average price is $245.97 and its 200-day moving average price is $239.37. Autodesk has a 52-week low of $192.01 and a 52-week high of $279.53. The company has a market cap 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 quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion during 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 was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, analysts anticipate that Autodesk will post 5.55 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the sale, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,931 shares of company stock valued at $9,537,781. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in shares of Autodesk during the 1st quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in Autodesk during the first quarter valued at $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk in the 4th quarter worth about $25,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the 2nd quarter valued at about $26,000. Hedge funds and other 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.