Autodesk, Inc. (NASDAQ:ADSK) Receives $342.61 Average Price Target from Brokerages

Key Points

• Analysts Consensus: Autodesk, Inc. has received a consensus recommendation of "Moderate Buy" from 24 research firms, with 16 analysts rating it as a buy and 1 as a strong buy.
• Price Targets: The average 12-month target price for Autodesk among analysts is approximately $342.61, indicating potential for growth in the stock value.
• Insider Activity: Recent insider sales include EVP Rebecca Pearce selling 3,251 shares at an average price of $315.00, representing a notable decrease in her shareholding in the company.

Autodesk, Inc. (NASDAQ:ADSK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-four analysts that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $343.0435.

Several brokerages have recently weighed in on ADSK. Robert W. Baird lifted their price target on shares of Autodesk from $335.00 to $345.00 and gave the stock an "outperform" rating in a research note on Thursday. Piper Sandler upped their price target on Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Citigroup lifted their price objective on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. DA Davidson raised shares of Autodesk to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 price target on shares of Autodesk in a report on Tuesday, May 20th.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the sale, the executive vice president owned 19,440 shares in the company, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 9,391 shares of company stock valued at $2,909,885. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently bought and sold shares of the stock. SouthState Corp raised its holdings in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Costello Asset Management INC bought a new stake in Autodesk in the first quarter worth $26,000. Close Asset Management Ltd purchased a new stake in Autodesk during the first quarter valued at $27,000. Cheviot Value Management LLC bought a new position in Autodesk during the first quarter valued at $27,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Autodesk in the 1st quarter worth $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

ADSK traded up $4.17 during mid-day trading on Tuesday, reaching $290.23. 1,116,901 shares of the company traded hands, compared to its average volume of 1,298,137. Autodesk has a 52-week low of $232.67 and a 52-week high of $326.62. The company's fifty day moving average price is $298.19 and its 200-day moving average price is $285.08. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $62.11 billion, a P/E ratio of 62.15, a P/E/G ratio of 2.79 and a beta of 1.46.

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.