Autodesk (NASDAQ:ADSK - Get Free Report) had its price target lifted by analysts at Barclays from $325.00 to $355.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the software company's stock. Barclays's price objective indicates a potential upside of 20.21% from the company's previous close.
A number of other research firms also recently weighed in on ADSK. Scotiabank dropped their target price 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. JPMorgan Chase & Co. lowered 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. 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 research note on Tuesday, April 15th. Citigroup reiterated a "buy" rating and issued a $374.00 target price (up previously from $346.00) on shares of Autodesk in a research report on Tuesday. Finally, Rosenblatt Securities restated a "buy" rating and set a $340.00 price target on shares of Autodesk in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $332.77.
Read Our Latest Analysis on Autodesk
Autodesk Price Performance
ADSK stock traded up $0.32 during mid-day trading on Friday, hitting $295.32. 941,779 shares of the stock were exchanged, compared to its average volume of 1,630,513. The business has a fifty day moving average price of $270.94 and a 200 day moving average price of $286.66. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $63.18 billion, a price-to-earnings ratio of 58.56, a PEG ratio of 2.94 and a beta of 1.47.
Insider Buying and Selling at Autodesk
In other news, Director John T. Cahill acquired 2,000 shares of the business's stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the company'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 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 position. The disclosure for this sale can be found here. 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 ADSK. Golden State Wealth Management LLC purchased a new position in Autodesk during the 4th quarter valued at about $25,000. SouthState Corp lifted its holdings in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk in the 1st quarter worth approximately $27,000. Finally, Cheviot Value Management LLC purchased a new position in Autodesk during the first quarter valued at $27,000. 90.24% of the stock is currently owned by 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.
Further Reading
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