Rosenblatt Securities Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its target price hoisted by Rosenblatt Securities from $295.00 to $325.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the software company’s stock.

ADSK has been the subject of several other reports. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price target 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. Berenberg Bank boosted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. BMO Capital Markets raised their target price on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Finally, Mizuho set a $260.00 price target on shares of Autodesk in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.38.

Autodesk Stock Performance

Shares of ADSK stock opened at $290.64 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company’s 50 day moving average price is $289.02 and its two-hundred day moving average price is $256.83. The company has a market capitalization of $62.49 billion, a P/E ratio of 59.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $1.33 earnings per share. On average, analysts expect that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated 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 sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several hedge funds and other institutional investors have recently modified their holdings of ADSK. Starboard Value LP acquired a new stake in Autodesk in the third quarter valued at about $510,189,000. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after purchasing an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Institutional investors 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.