Barclays Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its target price increased by equities researchers at Barclays from $310.00 to $355.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software company’s stock. Barclays‘s target price indicates a potential upside of 18.67% from the company’s current price.

Several other equities analysts have also weighed in on ADSK. Morgan Stanley restated an “overweight” rating and issued a $320.00 price target on shares of Autodesk in a research note on Monday, September 30th. Mizuho set a $260.00 price target on Autodesk in a research report on Friday, October 18th. KeyCorp restated an “overweight” rating and issued a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Finally, Hsbc Global Res raised Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $296.20.

Autodesk Stock Performance

Shares of ADSK stock opened at $299.15 on Friday. The stock has a market cap of $64.32 billion, a PE ratio of 61.18, a price-to-earnings-growth ratio of 4.00 and a beta of 1.47. The business has a 50-day simple moving average of $281.32 and a 200-day simple moving average of $251.23. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 52-week low of $195.32 and a 52-week high of $315.73.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data 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. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. On average, equities analysts expect that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 in the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ADSK. Avantax Advisory Services Inc. raised its holdings in Autodesk by 9.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock valued at $369,000 after acquiring an additional 122 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Autodesk by 1.8% during the 1st quarter. Blair William & Co. IL now owns 13,409 shares of the software company’s stock worth $3,492,000 after buying an additional 241 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after buying an additional 363,565 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Autodesk by 2.9% during the 1st quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after buying an additional 161 shares during the last quarter. Finally, Blue Barn Wealth LLC increased its holdings in shares of Autodesk by 6.5% during the 1st quarter. Blue Barn Wealth LLC now owns 2,113 shares of the software company’s stock worth $550,000 after buying an additional 129 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.