Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00

Autodesk (NASDAQ:ADSK) had its price objective raised by KeyCorp from $325.00 to $330.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

ADSK has been the subject of several other research reports. Barclays raised their price objective on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Berenberg Bank raised their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Stifel Nicolaus upped their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Oppenheimer increased their price objective on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Scotiabank started coverage on Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Up 1.9 %

Shares of Autodesk stock opened at $321.27 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk has a 1-year low of $195.32 and a 1-year high of $321.90. The business’s fifty day moving average price is $286.44 and its two-hundred day moving average price is $254.89. The company has a market capitalization of $69.07 billion, a P/E ratio of 65.70, a PEG ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $1.12 EPS. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast 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 the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal 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 that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 in the last quarter. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new stake in Autodesk during the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk in the 1st quarter valued at approximately $26,000. Olistico Wealth LLC bought a new stake in Autodesk in the 2nd quarter valued at approximately $26,000. Pacifica Partners Inc. raised its holdings in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Autodesk in the third quarter worth $27,000. 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.