Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00

Autodesk (NASDAQ:ADSK) had its target price boosted by KeyCorp from $325.00 to $330.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

Several other research firms have also issued reports on ADSK. Morgan Stanley reaffirmed an “overweight” rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, September 30th. Berenberg Bank increased their price objective on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Rosenblatt Securities lifted their target price on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays upped their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup set a $325.00 price objective on shares of Autodesk and gave the stock a “buy” rating in a research note on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Performance

Shares of ADSK stock opened at $321.27 on Wednesday. Autodesk has a 12 month low of $195.32 and a 12 month high of $321.90. The company’s fifty day simple moving average is $286.44 and its 200-day simple moving average is $254.61. The firm has a market cap of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 3.90 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 (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $1.12 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts expect that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’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 completion of the transaction, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Autodesk

Several large investors have recently added to or reduced their stakes in ADSK. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk in the first quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in Autodesk in the third quarter worth $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk in the 3rd quarter valued at about $28,000. Finally, Concord Wealth Partners bought a new stake in Autodesk in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.