Rosenblatt Securities Raises Autodesk (NASDAQ:ADSK) Price Target to $325.00

Autodesk (NASDAQ:ADSK) had its target price upped by equities researchers at Rosenblatt Securities from $295.00 to $325.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 11.82% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Piper Sandler raised their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. BMO Capital Markets boosted their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Morgan Stanley increased their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Robert W. Baird lifted their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $315.38.

Autodesk Trading Down 8.6 %

Shares of Autodesk stock opened at $290.64 on Wednesday. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50 day moving average price of $289.44 and a 200 day moving average price of $257.07. The company has a market capitalization of $62.49 billion, a P/E ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC grew its position in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Autodesk by 2.7% in the third 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 acquiring an additional 245,816 shares during the last quarter. Hedge funds and other institutional investors 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.