Autodesk (NASDAQ:ADSK – Get Free Report) was upgraded by research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat reports. The brokerage currently has a $400.00 target price on the software company’s stock, up from their previous target price of $280.00. Mizuho’s price objective indicates a potential upside of 31.51% from the company’s previous close.
Several other brokerages have also recently weighed in on ADSK. Oppenheimer boosted their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Scotiabank began coverage on shares of Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Rosenblatt Securities lifted their target price on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Macquarie began coverage on Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.50.
Read Our Latest Stock Report on ADSK
Autodesk Trading Down 1.9 %
Autodesk (NASDAQ:ADSK – Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. As a group, equities analysts expect that Autodesk will post 5.76 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.
Institutional Investors Weigh In On Autodesk
Several large investors have recently made changes to their positions in the stock. State Street Corp increased its position in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. FMR LLC increased its holdings in shares of 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 acquiring an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Autodesk by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after acquiring an additional 61,785 shares during the period. Principal Financial Group Inc. lifted its holdings in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Finally, Starboard Value LP bought a new position in Autodesk during the third quarter worth $510,189,000. Institutional investors and hedge funds 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.
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