Autodesk (NASDAQ:ADSK) Given New $350.00 Price Target at Stifel Nicolaus

Autodesk (NASDAQ:ADSK - Get Free Report) had its price target upped by equities research analysts at Stifel Nicolaus from $310.00 to $350.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the software company's stock. Stifel Nicolaus' price target suggests a potential upside of 16.16% from the company's current price.

Several other research firms have also commented on ADSK. JPMorgan Chase & Co. reduced their price target on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. UBS Group upped their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday, February 28th. Citigroup reiterated a "buy" rating and set a $374.00 price target (up previously from $346.00) on shares of Autodesk in a research note on Tuesday, May 20th. Mizuho reduced their price objective on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Scotiabank reduced their price target on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $337.45.

Autodesk Stock Performance

ADSK traded up $0.95 during mid-day trading on Friday, reaching $301.31. 574,666 shares of the company traded hands, compared to its average volume of 1,636,825. The company's fifty day moving average price is $272.84 and its 200-day moving average price is $286.47. The stock has a market capitalization of $64.46 billion, a P/E ratio of 59.79, a P/E/G ratio of 2.94 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of the firm's stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The stock was 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 directly owns 3,003 shares of the company's stock, valued at $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Freedom Investment Management Inc. raised its stake in shares of Autodesk by 2.4% in the first 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 grew its position in shares of Autodesk by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after buying an additional 35 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in Autodesk by 1.0% during 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 buying an additional 35 shares during the period. Journey Strategic Wealth LLC grew its stake 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 last quarter. Finally, Financial Network Wealth Advisors LLC grew its stake in Autodesk by 34.9% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after buying an additional 37 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other 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.