Barclays Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its price objective upped by Barclays from $310.00 to $355.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Several other research analysts also recently weighed in on ADSK. Piper Sandler boosted their target price on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Mizuho set a $260.00 target price on shares of Autodesk in a research note on Friday, October 18th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and boosted their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. DA Davidson assumed coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Finally, BMO Capital Markets lifted 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. Eight investment 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.19.

Autodesk Trading Up 1.0 %

NASDAQ:ADSK opened at $302.05 on Friday. The company has a market capitalization of $64.94 billion, a PE ratio of 61.77, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 52-week low of $195.32 and a 52-week high of $315.73. The stock has a fifty day simple moving average of $282.25 and a 200-day simple moving average of $252.44.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 EPS. On average, equities research analysts expect that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The stock was 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 owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC grew its stake in Autodesk by 13.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 801 shares of the software company’s stock worth $221,000 after buying an additional 97 shares during the last quarter. Fortem Financial Group LLC grew its stake in Autodesk by 46.0% during the 3rd quarter. Fortem Financial Group LLC now owns 7,656 shares of the software company’s stock worth $2,109,000 after buying an additional 2,411 shares during the last quarter. Toronto Dominion Bank grew its stake in Autodesk by 0.5% during the 3rd quarter. Toronto Dominion Bank now owns 117,626 shares of the software company’s stock worth $32,404,000 after buying an additional 622 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in Autodesk by 8.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,566 shares of the software company’s stock worth $1,275,000 after buying an additional 337 shares during the last quarter. Finally, Goodman Advisory Group LLC grew its stake in shares of Autodesk by 10.0% in the third quarter. Goodman Advisory Group LLC now owns 13,915 shares of the software company’s stock worth $3,833,000 after purchasing an additional 1,262 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

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.