Autodesk (NASDAQ:ADSK) Price Target Raised to $358.00

Autodesk (NASDAQ:ADSK) had its price objective lifted by Citigroup from $325.00 to $358.00 in a report published on Friday,Benzinga reports. Citigroup currently has a buy rating on the software company’s stock.

Several other equities analysts have also recently weighed in on ADSK. Robert W. Baird raised their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Stifel Nicolaus raised their price target on shares of Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and raised their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Mizuho set a $260.00 target price on shares of Autodesk in a report on Friday, October 18th. Finally, BMO Capital Markets boosted their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Eight equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $319.39 on Friday. The company has a market capitalization of $68.67 billion, a price-to-earnings ratio of 65.32, a P/E/G ratio of 4.10 and a beta of 1.47. The firm’s 50 day simple moving average is $287.47 and its 200 day simple moving average is $255.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business earned $1.12 EPS. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Autodesk will post 5.73 earnings per share for the current year.

Insider Activity

In related news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of large investors have recently bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $26,000. Olistico Wealth LLC bought a new stake in shares of Autodesk during the second quarter valued at approximately $26,000. Pacifica Partners Inc. boosted its position in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Autodesk during the third quarter valued at approximately $27,000. 90.24% of the stock is owned by hedge funds and other 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.