Autodesk (NASDAQ:ADSK) Coverage Initiated at Wells Fargo & Company

Stock analysts at Wells Fargo & Company started coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $340.00 price target on the software company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 17.01% from the company’s current price.

Several other research firms have also issued reports on ADSK. Stifel Nicolaus increased their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Piper Sandler increased their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley reissued an “overweight” rating and set a $320.00 target price on shares of Autodesk in a research note on Monday, September 30th. Barclays raised their price target on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Mizuho raised their price target on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.95.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $290.57 on Wednesday. The company has a market capitalization of $62.62 billion, a PE ratio of 62.89, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company’s fifty day moving average price is $263.05 and its 200 day moving average price is $241.90. Autodesk has a 1 year low of $192.01 and a 1 year high of $292.88.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts predict that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 17,344 shares of the firm’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 transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares in the company, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their position. 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 firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock worth $5,200,929. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in ADSK. Trust Point Inc. increased its holdings in Autodesk by 4.2% in the 3rd quarter. Trust Point Inc. now owns 1,819 shares of the software company’s stock valued at $501,000 after purchasing an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new stake in Autodesk in the 3rd quarter valued at approximately $311,000. Claro Advisors LLC acquired a new stake in Autodesk in the 3rd quarter valued at approximately $10,237,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Autodesk by 10.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,438 shares of the software company’s stock valued at $6,457,000 after purchasing an additional 2,135 shares during the last quarter. Finally, Marshall Financial Group LLC increased its holdings in Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds 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.