Citigroup Increases Autodesk (NASDAQ:ADSK) Price Target to $325.00

Autodesk (NASDAQ:ADSK) had its price target lifted by stock analysts at Citigroup from $316.00 to $325.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the software company’s stock. Citigroup’s price objective would indicate a potential upside of 27.06% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. KeyCorp restated an “overweight” rating and set a $305.00 target price on shares of Autodesk in a research report on Monday, August 26th. 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. Royal Bank of Canada upped their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Piper Sandler increased their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Barclays increased their price target on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Autodesk Price Performance

NASDAQ ADSK opened at $255.79 on Tuesday. The stock has a market cap of $55.13 billion, a price-to-earnings ratio of 55.37, a PEG ratio of 3.45 and a beta of 1.48. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. The company’s 50 day moving average is $246.91 and its two-hundred day moving average is $239.18. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts anticipate that Autodesk will post 5.55 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,275 shares of company stock valued at $14,220,661. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

A number of institutional investors and hedge funds have recently made changes to their positions in ADSK. Price T Rowe Associates Inc. MD increased its position in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Norges Bank purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $619,404,000. Ninety One UK Ltd boosted its stake in 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 purchasing an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp boosted its stake in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after purchasing 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% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after buying an additional 662,339 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.