Autodesk (NASDAQ:ADSK) Price Target Raised to $340.00 at Stifel Nicolaus

Autodesk (NASDAQ:ADSK) had its price target increased by Stifel Nicolaus from $320.00 to $340.00 in a research report report published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

A number of other research firms have also commented on ADSK. Mizuho set a $260.00 price objective on Autodesk in a research note on Friday, October 18th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and raised their target price for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $320.00 target price on shares of Autodesk in a report on Monday, September 30th. Piper Sandler raised their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Bank of America raised their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $301.19.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $302.05 on Friday. The firm has a market cap of $64.94 billion, a P/E ratio of 61.77, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 1-year low of $195.32 and a 1-year high of $315.73. The business’s 50 day moving average is $282.25 and its 200-day moving average is $252.44.

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

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after purchasing an additional 363,565 shares in the last quarter. State Street Corp increased its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Autodesk by 263.6% during the 1st 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 in the last quarter. FMR LLC increased its holdings in Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after purchasing an additional 46,069 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings 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 in the last quarter. 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.