Autodesk (NASDAQ:ADSK) Price Target Raised to $280.00

Autodesk (NASDAQ:ADSK) had its price objective boosted by Mizuho from $260.00 to $280.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the software company’s stock.

ADSK has been the topic of several other reports. Wells Fargo & Company lifted their target price on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Berenberg Bank increased their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Barclays boosted their price target on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Robert W. Baird upped their price objective on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $315.10.

Autodesk Trading Up 0.4 %

NASDAQ ADSK opened at $291.90 on Wednesday. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The business’s fifty day moving average is $289.93 and its 200 day moving average is $257.59. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $62.76 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the company earned $1.33 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Autodesk will post 5.74 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction 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 quarter, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jag Capital Management LLC purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $13,861,000. LMR Partners LLP purchased a new stake in Autodesk in the third quarter worth $12,643,000. Cetera Investment Advisers raised its stake in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares during the period. Bank of Montreal Can lifted its position in shares of Autodesk by 8.7% during the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after buying an additional 73,363 shares during the last quarter. Finally, Forsta AP Fonden grew its stake in shares of Autodesk by 7.9% during the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after acquiring an additional 3,800 shares during the period. 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.