Autodesk (NASDAQ:ADSK) Given New $361.00 Price Target at Citigroup

Autodesk (NASDAQ:ADSK) had its price objective boosted by Citigroup from $358.00 to $361.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the software company’s stock.

Several other equities analysts have also commented on ADSK. Bank of America increased their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus boosted their price objective on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research report on Friday. Finally, Scotiabank started coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.10.

Autodesk Stock Up 0.4 %

Shares of Autodesk stock opened at $291.90 on Friday. 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 P/E ratio of 57.92, a PEG ratio of 3.73 and a beta of 1.47. The firm’s 50 day moving average price is $289.93 and its 200-day moving average price is $258.15. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $1.33 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Autodesk will post 5.79 EPS for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the firm’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 transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’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 sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock worth $549,333 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. LRI Investments LLC acquired a new stake in shares of Autodesk in the first quarter valued at approximately $26,000. Olistico Wealth LLC purchased a new stake in Autodesk in the 2nd quarter valued at $26,000. Pacifica Partners Inc. increased its stake in shares of Autodesk by 83.3% in the 2nd 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 last quarter. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the 3rd quarter worth $27,000. Finally, Concord Wealth Partners acquired a new position in shares of Autodesk during the 3rd quarter valued at about $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.