Autodesk (NASDAQ:ADSK) Price Target Raised to $350.00

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Wells Fargo & Company from $340.00 to $350.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Several other analysts also recently weighed in on the company. Royal Bank of Canada boosted their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Rosenblatt Securities upped their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Oppenheimer raised their target price on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Mizuho set a $260.00 price target on shares of Autodesk in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $321.27 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $69.07 billion, a price-to-earnings ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47. The firm has a 50 day moving average of $286.44 and a 200 day moving average of $255.18. Autodesk has a 52 week low of $195.32 and a 52 week high of $321.90.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The firm 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 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. On average, sell-side analysts predict that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new position in Autodesk during the 1st quarter valued at about $25,000. LRI Investments LLC acquired a new position in shares of Autodesk during the first quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of Autodesk during the third quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new position in Autodesk in the 3rd quarter worth approximately $28,000. Finally, Concord Wealth Partners acquired a new stake in Autodesk in the 3rd quarter valued at approximately $28,000. 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.