Mizuho upgraded shares of Autodesk (NASDAQ:ADSK – Free Report) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. Mizuho currently has $400.00 price target on the software company’s stock, up from their prior price target of $280.00.
A number of other research analysts have also weighed in on the company. Morgan Stanley raised their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird raised their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Hsbc Global Res downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.50.
View Our Latest Research Report on Autodesk
Autodesk Stock Performance
Autodesk (NASDAQ:ADSK – Get Free Report) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.
Insider Buying and Selling at Autodesk
In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.
Hedge Funds Weigh In On Autodesk
A number of large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. FMR LLC increased its position in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after buying an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after buying an additional 61,785 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 buying an additional 245,816 shares in the last quarter. Finally, Starboard Value LP purchased a new position in Autodesk during the third quarter valued at approximately $510,189,000. 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.
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