Autodesk (NASDAQ:ADSK) Price Target Lowered to $350.00 at Mizuho

Autodesk (NASDAQ:ADSK) had its target price reduced by equities researchers at Mizuho from $400.00 to $350.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the software company’s stock. Mizuho’s price target would suggest a potential upside of 34.53% from the stock’s previous close.

ADSK has been the subject of several other reports. Bank of America lifted their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup decreased their price objective on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Barclays decreased their price target on shares of Autodesk from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus dropped their price target on Autodesk from $350.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Robert W. Baird decreased their price objective on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. 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 MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $321.59.

Autodesk Trading Down 2.0 %

Shares of Autodesk stock opened at $260.16 on Tuesday. The stock has a market cap of $55.41 billion, a P/E ratio of 51.62, a P/E/G ratio of 2.94 and a beta of 1.49. 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. The business’s 50 day moving average is $269.76 and its 200-day moving average is $286.96.

Insider Activity at Autodesk

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after acquiring an additional 245,816 shares during the period. SOA Wealth Advisors LLC. lifted its position in shares of Autodesk by 164.0% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company’s stock worth $63,000 after purchasing an additional 141 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Autodesk by 11.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,882 shares of the software company’s stock valued at $518,000 after purchasing an additional 188 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Autodesk during the third quarter worth $3,923,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Autodesk during the third quarter worth $4,751,000. 90.24% of the stock is 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.