Autodesk (NASDAQ:ADSK) Price Target Raised to $345.00

Autodesk (NASDAQ:ADSK) had its target price upped by Robert W. Baird from $335.00 to $345.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the software company’s stock.

Several other equities analysts have also recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price (up from $300.00) on shares of Autodesk in a research note on Friday, May 23rd. Stifel Nicolaus boosted their target price on shares of Autodesk from $310.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. DA Davidson upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, July 22nd. BMO Capital Markets upped their price objective on shares of Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research report on Friday, May 23rd. Finally, Loop Capital started coverage on shares of Autodesk in a research report on Monday, July 21st. They set a “hold” rating and a $320.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $343.04.

Autodesk Stock Performance

ADSK opened at $290.23 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a fifty day moving average price of $298.19 and a 200 day moving average price of $285.08. Autodesk has a 1 year low of $232.67 and a 1 year high of $326.62. The stock has a market cap of $62.11 billion, a P/E ratio of 62.15, a P/E/G ratio of 2.79 and a beta of 1.46.

Insiders Place Their Bets

In other news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at $6,123,600. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 9,391 shares of company stock worth $2,909,885 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently modified their holdings of the business. SouthState Corp raised its position in shares of Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Autodesk in the first quarter valued at about $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk in the first quarter valued at about $27,000. Cheviot Value Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at about $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Autodesk in the first quarter valued at about $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.