Mizuho Increases Autodesk (NASDAQ:ADSK) Price Target to $260.00

Autodesk (NASDAQ:ADSK) had its price target upped by Mizuho from $230.00 to $260.00 in a research report released on Friday, Benzinga reports. Mizuho currently has a neutral rating on the software company’s stock.

ADSK has been the subject of a number of other reports. Royal Bank of Canada reiterated an outperform rating and issued a $260.00 price objective on shares of Autodesk in a report on Tuesday, June 18th. Piper Sandler reissued a neutral rating and set a $239.00 price target on shares of Autodesk in a research note on Wednesday, June 12th. BMO Capital Markets cut their price objective on shares of Autodesk from $293.00 to $254.00 and set a market perform rating for the company in a research note on Wednesday, June 12th. Bank of America decreased their target price on shares of Autodesk from $300.00 to $260.00 and set a neutral rating on the stock in a research report on Monday, June 3rd. Finally, Oppenheimer restated an outperform rating and set a $275.00 price target on shares of Autodesk in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Autodesk currently has an average rating of Moderate Buy and a consensus target price of $283.33.

Autodesk Stock Performance

NASDAQ:ADSK opened at $258.40 on Friday. The stock has a market cap of $55.69 billion, a P/E ratio of 55.93, a PEG 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. The business’s 50-day moving average price is $245.97 and its two-hundred day moving average price is $239.25. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $1.12 earnings per share. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts predict that Autodesk will post 5.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the sale, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The disclosure for this sale can be found here. Insiders have sold 39,931 shares of company stock valued at $9,537,781 over the last ninety days. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Autodesk

Several large investors have recently made changes to their positions in the business. 3Chopt Investment Partners LLC purchased a new position in shares of Autodesk during the second quarter valued at approximately $874,000. Advisory Alpha LLC lifted its holdings in shares of Autodesk by 23.7% during the second quarter. Advisory Alpha LLC now owns 1,911 shares of the software company’s stock valued at $473,000 after purchasing an additional 366 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Autodesk by 202.8% during the second quarter. EP Wealth Advisors LLC now owns 2,353 shares of the software company’s stock valued at $582,000 after purchasing an additional 1,576 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Autodesk by 4.4% during the second quarter. NewEdge Advisors LLC now owns 14,023 shares of the software company’s stock valued at $3,470,000 after purchasing an additional 590 shares during the last quarter. Finally, Creative Planning raised its holdings in Autodesk by 5.3% in the 2nd quarter. Creative Planning now owns 37,659 shares of the software company’s stock worth $9,319,000 after acquiring an additional 1,900 shares during the last quarter. 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.