Autodesk (NASDAQ:ADSK) Price Target Raised to $373.00 at Piper Sandler

Key Points

• Piper Sandler raised its price target for Autodesk from $361.00 to $373.00, suggesting a potential upside of 29.29% from the company's previous close.
• Various analysts have recently rated Autodesk with a largely positive outlook, with one analyst giving a Strong Buy rating and an average rating of "Moderate Buy."
• Insider activity includes the sale of 3,251 shares by EVP Rebecca Pearce, indicating a 14.33% reduction in her position, amidst a broader context of insider sales totaling 9,391 shares over the past 90 days.

Autodesk (NASDAQ:ADSK - Get Free Report) had its price target lifted by equities research analysts at Piper Sandler from $361.00 to $373.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the software company's stock. Piper Sandler's price target would indicate a potential upside of 29.29% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Autodesk from $324.00 to $333.00 and gave the stock a "market perform" rating in a research note on Friday, May 23rd. Bank of America raised their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company reissued an "overweight" rating on shares of Autodesk in a research note on Friday. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $370.00 price objective (up previously from $330.00) on shares of Autodesk in a research report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $343.57.

Autodesk Trading Up 0.9%

Shares of ADSK stock opened at $288.49 on Friday. The stock's fifty day moving average is $297.30 and its two-hundred day moving average is $284.69. 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 market capitalization of $61.74 billion, a P/E ratio of 61.78, a PEG ratio of 2.75 and a beta of 1.46. Autodesk has a fifty-two week low of $232.67 and a fifty-two week high of $326.62.

Insider Activity at Autodesk

In other news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company's stock, valued at approximately $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 9,391 shares of company stock worth $2,909,885. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management raised its holdings in Autodesk by 2.5% in the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock valued at $543,000 after buying an additional 50 shares during the period. Sowell Financial Services LLC purchased a new stake in Autodesk in the 1st quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Autodesk by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,617 shares of the software company's stock valued at $3,565,000 after acquiring an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Autodesk by 27.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,826 shares of the software company's stock valued at $11,212,000 after acquiring an additional 9,222 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Autodesk by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 5,617 shares of the software company's stock valued at $1,471,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

About Autodesk

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.