Barclays Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK - Get Free Report) had its price target lifted by equities research analysts at Barclays from $325.00 to $355.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the software company's stock. Barclays's target price points to a potential upside of 17.82% from the stock's current price.

ADSK has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective 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. BMO Capital Markets increased their price target on Autodesk from $324.00 to $333.00 and gave the company a "market perform" rating in a research note on Friday, May 23rd. Stifel Nicolaus boosted their price objective on Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, DA Davidson set a $305.00 target price on shares of Autodesk and gave the stock a "neutral" rating in a report on Friday, May 23rd. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.45.

Autodesk Stock Up 0.3%

Autodesk stock traded up $0.95 during midday trading on Friday, hitting $301.31. 574,666 shares of the company were exchanged, 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. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a market cap of $64.46 billion, a PE ratio of 59.79, 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.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the business'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 value 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 $802,671.87. The trade was a 44.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares of the company's stock, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.15% of the company's stock.

Institutional Trading of Autodesk

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Autodesk by 196.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock worth $2,394,000 after acquiring an additional 5,365 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Autodesk in the fourth quarter worth $13,906,000. Robeco Institutional Asset Management B.V. raised its holdings in Autodesk by 25.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company's stock worth $88,711,000 after purchasing an additional 60,963 shares in the last quarter. GAM Holding AG purchased a new position in Autodesk during the fourth quarter valued at $3,453,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Autodesk by 8.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,398 shares of the software company's stock valued at $38,205,000 after buying an additional 9,877 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

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.