Piper Sandler Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price boosted by investment analysts at Piper Sandler from $257.00 to $311.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software company’s stock. Piper Sandler’s price target indicates a potential downside of 2.19% from the company’s previous close.

A number of other research analysts also recently commented on ADSK. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and increased their price target for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Morgan Stanley boosted their price objective on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer upped their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Barclays lifted their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Stifel Nicolaus lifted their target price on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.43.

Autodesk Trading Down 0.4 %

Shares of Autodesk stock traded down $1.43 during mid-day trading on Wednesday, hitting $317.96. 2,519,923 shares of the stock were exchanged, compared to its average volume of 1,448,773. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $68.36 billion, a price-to-earnings ratio of 65.02, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. The company has a 50-day simple moving average of $288.49 and a 200 day simple moving average of $256.59. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last posted 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 net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm posted $1.33 earnings per share. Autodesk’s revenue was up 11.0% on a year-over-year basis. Research analysts forecast that Autodesk will post 5.73 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,280 shares of company stock worth $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. New Covenant Trust Company N.A. bought a new position in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Autodesk in the first quarter worth approximately $26,000. Olistico Wealth LLC purchased a new position in shares of Autodesk in the 2nd quarter worth $26,000. Pacifica Partners Inc. increased its holdings in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after buying an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in Autodesk in the third quarter worth about $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.