Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00 at Bank of America

Autodesk (NASDAQ:ADSK - Get Free Report) had its price target increased by analysts at Bank of America from $290.00 to $330.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software company's stock. Bank of America's target price points to a potential upside of 12.41% from the stock's current price.

A number of other equities research analysts have also commented on the company. Oppenheimer reissued an "outperform" rating on shares of Autodesk in a research report on Friday. Macquarie reiterated an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a research note on Friday, February 28th. BMO Capital Markets raised their price target on shares of Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research report on Friday. Robert W. Baird boosted their price target on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, DA Davidson upped their price objective on shares of Autodesk from $265.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $334.23.

Autodesk Stock Down 0.5%

ADSK traded down $1.43 during midday trading on Friday, reaching $293.58. 1,733,835 shares of the company were exchanged, compared to its average volume of 1,633,204. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company's fifty day moving average price is $270.94 and its 200 day moving average price is $286.66. The company has a market cap of $62.81 billion, a price-to-earnings ratio of 58.25, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47.

Insider Buying and Selling at Autodesk

In other news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Autodesk by 1.9% in 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 purchasing an additional 397,458 shares in the last quarter. Ninety One UK Ltd boosted its stake in Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after purchasing an additional 79,900 shares during the period. Geode Capital Management LLC grew its holdings 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 buying an additional 45,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Autodesk by 13.1% during the first 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 buying an additional 400,514 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position 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 buying an additional 1,016,187 shares during the period. 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.

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