Autodesk (NASDAQ:ADSK) Price Target Raised to $325.00

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

Several other equities analysts have also issued reports on ADSK. Mizuho set a $260.00 price objective on shares of Autodesk in a report on Friday, October 18th. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. BMO Capital Markets upped their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Finally, DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price for the company. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $315.10.

Autodesk Price Performance

ADSK opened at $291.90 on Wednesday. The company has a market capitalization of $62.76 billion, a price-to-earnings ratio of 57.92, a PEG ratio of 3.71 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The business’s fifty day simple moving average is $289.93 and its 200-day simple moving average is $257.59.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, equities research analysts anticipate that Autodesk will post 5.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Autodesk by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock valued at $3,522,000 after purchasing an additional 421 shares during the period. Tidal Investments LLC lifted its stake in shares of Autodesk by 245.4% in the 3rd quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock valued at $21,214,000 after purchasing an additional 54,712 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Autodesk during the third quarter worth $4,751,000. Finally, World Investment Advisors LLC acquired a new stake in Autodesk during the third quarter valued at $3,923,000. 90.24% of the stock is currently 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.