The Goldman Sachs Group Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK - Free Report) had its target price increased by The Goldman Sachs Group from $270.00 to $300.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the software company's stock.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a report on Friday, May 23rd. Macquarie reissued an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research note on Tuesday, May 20th. Mizuho lowered their price target on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, KeyCorp reissued an "overweight" rating and set a $350.00 price target (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $337.45.

Autodesk Trading Down 0.4%

ADSK stock traded down $1.13 during midday trading on Friday, hitting $299.23. The stock had a trading volume of 1,476,315 shares, compared to its average volume of 1,640,290. The firm has a market cap of $64.02 billion, a PE ratio of 59.37, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. 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 12-month low of $195.32 and a 12-month high of $326.62. The company's 50-day moving average price is $272.84 and its 200 day moving average price is $286.47.

Insider Buying and Selling at Autodesk

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

Institutional Trading of Autodesk

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock valued at $5,440,968,000 after buying an additional 397,458 shares during the last quarter. Ninety One UK Ltd raised its stake in Autodesk by 1.6% during the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after acquiring an additional 79,900 shares in the last quarter. Geode Capital Management LLC raised its stake in Autodesk by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after acquiring an additional 45,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Autodesk by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock valued at $904,326,000 after acquiring an additional 400,514 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Autodesk by 44.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. 90.24% of the stock is currently owned by 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.