Autodesk (NASDAQ:ADSK) Price Target Raised to $375.00

Autodesk (NASDAQ:ADSK) had its price objective boosted by Morgan Stanley from $320.00 to $375.00 in a research note released on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the software company’s stock.

ADSK has been the topic of several other reports. Berenberg Bank boosted their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Wells Fargo & Company started coverage on shares of Autodesk in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 target price for the company. DA Davidson initiated coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target on the stock. Finally, Scotiabank assumed coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Performance

NASDAQ:ADSK opened at $321.27 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $321.90. The firm has a market cap of $69.07 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47. The business has a 50 day moving average price of $286.44 and a 200-day moving average price of $255.18.

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

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Autodesk during the 1st quarter valued at $26,000. Olistico Wealth LLC purchased a new position in shares of Autodesk in the 2nd quarter worth $26,000. Pacifica Partners Inc. grew its holdings in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares during the period. Finally, Livelsberger Financial Advisory purchased a new stake in Autodesk during the third quarter valued at $27,000. 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.