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

Autodesk (NASDAQ:ADSK) had its price target boosted by Barclays from $310.00 to $355.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the software company’s stock.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 target price on the stock. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. KeyCorp restated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Citigroup set a $325.00 price target on Autodesk and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler boosted their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $296.20.

Autodesk Price Performance

Shares of Autodesk stock traded down $7.50 on Friday, reaching $299.15. 2,300,222 shares of the stock were exchanged, compared to its average volume of 1,579,473. 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 one year low of $195.32 and a one year high of $315.73. The firm has a market cap of $64.32 billion, a PE ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47. The firm’s 50 day moving average is $281.32 and its 200-day moving average is $251.23.

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

Insider Buying and Selling

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

Institutional Trading of Autodesk

Institutional investors have recently made changes to their positions in the stock. Marshall Financial Group LLC lifted its holdings in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after buying an additional 35 shares during the period. Avitas Wealth Management LLC increased its holdings in Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after buying an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Autodesk by 28.9% during the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after purchasing an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

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.