Autodesk (NASDAQ:ADSK) Upgraded to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Autodesk (NASDAQ:ADSK) from a sell rating to a neutral rating in a research note published on Tuesday, Marketbeat.com reports. The firm currently has $295.00 price target on the software company’s stock, up from their prior price target of $225.00.

Other analysts also recently issued research reports about the stock. Mizuho lifted their target price on shares of Autodesk from $230.00 to $260.00 and gave the company a neutral rating in a report on Friday, August 30th. Royal Bank of Canada raised their price target on Autodesk from $290.00 to $313.00 and gave the stock an outperform rating in a research report on Friday, August 30th. Piper Sandler boosted their price objective on Autodesk from $239.00 to $257.00 and gave the company a neutral rating in a report on Friday, August 30th. Barclays raised their target price on Autodesk from $275.00 to $310.00 and gave the company an overweight rating in a report on Friday, August 30th. Finally, Bank of America boosted 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. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $292.17.

Autodesk Price Performance

NASDAQ:ADSK opened at $251.77 on Tuesday. The company has a market capitalization of $54.26 billion, a P/E ratio of 54.50, a P/E/G ratio of 3.45 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk has a 52 week low of $192.01 and a 52 week high of $279.53. The stock’s fifty day moving average is $247.07 and its two-hundred day moving average is $239.27.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that Autodesk will post 5.55 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,275 shares of company stock worth $14,220,661. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its holdings in shares of Autodesk by 5.5% in the fourth quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company’s stock valued at $481,000 after buying an additional 103 shares during the last quarter. Summit Global Investments acquired a new stake in Autodesk during the 4th quarter worth approximately $256,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Autodesk by 34.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,183 shares of the software company’s stock valued at $1,019,000 after purchasing an additional 1,079 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $302,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $304,000. Hedge funds and other institutional investors 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.