Autodesk (NASDAQ:ADSK) Price Target Raised to $358.00

Autodesk (NASDAQ:ADSK) had its price target increased by research analysts at Citigroup from $325.00 to $358.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Citigroup’s price target indicates a potential upside of 12.09% from the stock’s previous close.

Several other brokerages also recently issued reports on ADSK. KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho set a $260.00 price target on shares of Autodesk in a research report on Friday, October 18th. Piper Sandler upped their price objective 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. Wells Fargo & Company lifted their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Stock Up 1.3 %

ADSK stock traded up $3.97 during trading on Friday, reaching $319.38. 686,319 shares of the stock were exchanged, compared to its average volume of 1,571,112. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a twelve month low of $195.32 and a twelve month high of $319.76. The firm’s 50 day moving average is $285.29 and its 200 day moving average is $253.88. The firm has a market cap of $68.67 billion, a P/E ratio of 65.33, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly 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. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. As a group, research analysts forecast that Autodesk will post 5.73 EPS for the current year.

Insider Activity

In related news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 50.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Financial Group LLC raised its holdings in shares of Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares in the last quarter. Avitas Wealth Management LLC increased its position in Autodesk by 0.8% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after purchasing an additional 42 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Autodesk by 28.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock worth $54,000 after purchasing an additional 44 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of Autodesk by 5.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares in the last quarter. 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.