Autodesk (NASDAQ:ADSK) PT Raised to $299.00

Autodesk (NASDAQ:ADSK) had its price objective hoisted by analysts at Berenberg Bank from $286.00 to $299.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the software company’s stock. Berenberg Bank’s price objective indicates a potential upside of 15.71% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Mizuho raised their price target on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday. Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday. KeyCorp restated an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a research note on Monday, August 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $290.00 target price on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Piper Sandler raised their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $283.33.

Autodesk Stock Performance

Shares of ADSK stock opened at $258.40 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The company has a market cap of $55.69 billion, a PE ratio of 55.93, a PEG ratio of 3.23 and a beta of 1.48. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The business’s fifty day simple moving average is $245.97 and its 200-day simple moving average is $239.37.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts expect that Autodesk will post 5.55 earnings per share for the current fiscal year.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The disclosure for this sale can be found here. Insiders have sold 39,931 shares of company stock worth $9,537,781 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently made changes to their positions in ADSK. 3Chopt Investment Partners LLC purchased a new position in Autodesk in the 2nd quarter valued at $874,000. Advisory Alpha LLC raised its position in shares of Autodesk by 23.7% in the second quarter. Advisory Alpha LLC now owns 1,911 shares of the software company’s stock valued at $473,000 after buying an additional 366 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Autodesk by 202.8% in the second quarter. EP Wealth Advisors LLC now owns 2,353 shares of the software company’s stock worth $582,000 after buying an additional 1,576 shares in the last quarter. NewEdge Advisors LLC boosted its position in Autodesk by 4.4% during the second quarter. NewEdge Advisors LLC now owns 14,023 shares of the software company’s stock worth $3,470,000 after acquiring an additional 590 shares during the last quarter. Finally, Creative Planning grew its stake in Autodesk by 5.3% during the 2nd quarter. Creative Planning now owns 37,659 shares of the software company’s stock valued at $9,319,000 after acquiring an additional 1,900 shares in the last quarter. 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.