Autodesk (NASDAQ:ADSK) Given New $345.00 Price Target at Wells Fargo & Company

Autodesk (NASDAQ:ADSK) had its target price decreased by investment analysts at Wells Fargo & Company from $350.00 to $345.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the software company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 35.68% from the company’s previous close.

ADSK has been the subject of a number of other research reports. Citigroup reduced their price target on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer lowered their price target on Autodesk from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. KeyCorp decreased their price objective on shares of Autodesk from $335.00 to $323.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Macquarie reiterated an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Finally, Morgan Stanley decreased their price target on shares of Autodesk from $385.00 to $330.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.36.

Autodesk Stock Performance

Shares of ADSK opened at $254.27 on Tuesday. The firm has a market cap of $54.16 billion, a price-to-earnings ratio of 50.45, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company’s fifty day moving average is $267.18 and its 200-day moving average is $286.92. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $534,200. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after buying an additional 2,307,960 shares in the last quarter. Norges Bank acquired a new stake in Autodesk in the fourth quarter worth about $632,566,000. Farallon Capital Management LLC acquired a new position in Autodesk during the 4th quarter valued at about $544,381,000. GAMMA Investing LLC grew its position in shares of Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company’s stock worth $384,985,000 after buying an additional 1,465,204 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Autodesk by 43.7% in the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after buying an additional 670,699 shares during the period. 90.24% of the stock is owned by 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.