Autodesk (NASDAQ:ADSK) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $270.95 and traded as high as $298.92. Autodesk shares last traded at $297.53, with a volume of 1,190,620 shares traded.

Analysts Set New Price Targets

Several research analysts recently commented on ADSK shares. Citigroup increased their price objective on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Stifel Nicolaus upped their price objective on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird raised their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Mizuho lifted their target price on Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, Macquarie assumed coverage on shares of Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target on the stock. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $323.95.

Autodesk Stock Performance

The firm has a 50 day moving average of $300.26 and a two-hundred day moving average of $270.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $63.97 billion, a PE ratio of 59.03, a PEG ratio of 3.62 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 EPS. Research analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in Autodesk in the 3rd quarter valued at $28,000. Concord Wealth Partners acquired a new stake in Autodesk during the 3rd quarter worth $28,000. ANTIPODES PARTNERS Ltd purchased a new position in Autodesk during the 2nd quarter worth $36,000. Finally, Wolff Wiese Magana LLC increased its stake in Autodesk by 3,625.0% in the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after purchasing an additional 145 shares during the period. 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.