Autodesk (NASDAQ:ADSK - Get Free Report) had its price target increased by Bank of America from $290.00 to $330.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software company's stock. Bank of America's price target would suggest a potential upside of 10.28% from the stock's current price.
A number of other analysts have also recently commented on the stock. Robert W. Baird upped their target price on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Wells Fargo & Company reduced their price objective on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Mizuho cut their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Macquarie restated an "outperform" rating and set a $360.00 price objective on shares of Autodesk in a research report on Friday, February 28th. Finally, KeyCorp reissued an "overweight" rating and issued a $350.00 target price (up from $323.00) on shares of Autodesk in a 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $337.45.
Get Our Latest Stock Analysis on ADSK
Autodesk Stock Performance
Shares of NASDAQ ADSK traded down $1.13 during midday trading on Friday, hitting $299.23. 1,476,315 shares of the company's stock traded hands, compared to its average volume of 1,640,290. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The stock has a market capitalization of $64.02 billion, a price-to-earnings 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 quick ratio of 0.65 and a current ratio of 0.65. The firm has a fifty day moving average of $272.84 and a 200 day moving average of $286.47.
Insider Transactions at Autodesk
In related news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was purchased 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 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. Company insiders own 0.15% of the company's stock.
Institutional Investors Weigh In On Autodesk
Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Autodesk in the fourth quarter worth about $25,000. SouthState Corp lifted its position in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after purchasing an additional 80 shares during the period. Costello Asset Management INC purchased a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Close Asset Management Ltd purchased a new stake in shares of Autodesk in the 1st quarter worth approximately $27,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Autodesk in the 1st quarter worth approximately $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk Company Profile
(
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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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