Autodesk (NASDAQ:ADSK) Given New $300.00 Price Target at The Goldman Sachs Group

Autodesk (NASDAQ:ADSK - Free Report) had its target price raised by The Goldman Sachs Group from $270.00 to $300.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the software company's stock.

ADSK has been the subject of several other reports. Bank of America raised their price objective on Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Macquarie restated an "outperform" rating and issued a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price target (up previously from $300.00) on shares of Autodesk in a research note on Friday. Stifel Nicolaus increased their price objective on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $337.18.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $0.35 during trading on Friday, hitting $295.35. 3,196,593 shares of the company were exchanged, compared to its average volume of 1,638,970. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.94 and a beta of 1.47. The firm's fifty day moving average price is $272.19 and its 200 day moving average price is $286.37.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. This represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADSK. Freedom Investment Management Inc. raised its stake in shares of Autodesk by 2.4% in the 1st quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company's stock valued at $386,000 after acquiring an additional 34 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock valued at $551,000 after purchasing an additional 35 shares in the last quarter. Y.D. More Investments Ltd raised its position in Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock valued at $1,000,000 after purchasing an additional 35 shares during the period. Journey Strategic Wealth LLC raised its position in Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock valued at $247,000 after purchasing an additional 37 shares during the period. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of Autodesk by 34.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after purchasing an additional 37 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.