Autodesk (NASDAQ:ADSK) Given New $280.00 Price Target at Mizuho

Autodesk (NASDAQ:ADSK) had its target price raised by Mizuho from $260.00 to $280.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the software company’s stock.

A number of other research firms have also commented on ADSK. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price target for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Royal Bank of Canada raised their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America lifted their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. 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 report on Friday, November 15th. Eight investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Price Performance

Shares of ADSK opened at $290.64 on Wednesday. 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 1 year low of $195.32 and a 1 year high of $326.62. The stock has a market cap of $62.49 billion, a P/E ratio of 59.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. The stock’s 50-day moving average price is $289.02 and its two-hundred day moving average price is $256.83.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. Autodesk’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 earnings per share. On average, equities analysts predict that Autodesk will post 5.73 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction 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 completion of the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,280 shares of company stock worth $5,232,213. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. FMR LLC grew its stake in shares of Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after acquiring an additional 46,069 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Autodesk by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after purchasing an additional 61,785 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 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.