Autodesk (NASDAQ:ADSK) Price Target Raised to $370.00 at Morgan Stanley

Autodesk (NASDAQ:ADSK - Get Free Report) had its target price boosted by equities research analysts at Morgan Stanley from $330.00 to $370.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the software company's stock. Morgan Stanley's price objective indicates a potential upside of 25.71% from the company's previous close.

Several other research analysts also recently issued reports on ADSK. JPMorgan Chase & Co. reduced their price target on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their price target on shares of Autodesk from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Bank of America raised their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. UBS Group upped their price objective on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Robert W. Baird lifted their target price on Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $329.59.

Autodesk Price Performance

NASDAQ ADSK traded down $0.68 on Friday, reaching $294.32. The company's stock had a trading volume of 681,027 shares, compared to its average volume of 1,629,356. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The firm has a market cap of $62.97 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The business has a 50-day moving average price of $270.94 and a 200 day moving average price of $286.66. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In other news, Director John T. Cahill bought 2,000 shares of the business's stock in a transaction that occurred on 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 purchase, the director now owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were 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 $802,671.87. This represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its holdings in Autodesk by 675.0% during the 1st quarter. Acadian Asset Management LLC now owns 47,430 shares of the software company's stock valued at $12,409,000 after purchasing an additional 41,310 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Autodesk by 18.6% in the first quarter. Geneos Wealth Management Inc. now owns 2,720 shares of the software company's stock valued at $712,000 after purchasing an additional 427 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Autodesk by 2.5% during the 1st quarter. IFM Investors Pty Ltd now owns 42,975 shares of the software company's stock worth $11,251,000 after buying an additional 1,050 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Autodesk during the 1st quarter worth about $974,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Autodesk during the 1st quarter worth about $622,000. 90.24% of the stock is currently owned by 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.

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