Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Citigroup Analyst Says

Autodesk (NASDAQ:ADSK - Free Report) had its target price upped by Citigroup from $374.00 to $376.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the software company's stock.

A number of other equities research analysts have also recently commented on ADSK. Scotiabank decreased their target price on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group lifted their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Bank of America boosted their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Robert W. Baird upped their price target on shares of Autodesk from $303.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Piper Sandler lifted their price objective on shares of Autodesk from $357.00 to $361.00 and gave the stock an "overweight" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $337.45.

Autodesk Stock Down 0.7%

Shares of ADSK traded down $2.23 during trading hours on Tuesday, hitting $297.00. The company had a trading volume of 1,250,140 shares, compared to its average volume of 1,632,600. The company has a market capitalization of $63.54 billion, a PE ratio of 58.93, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company's fifty day moving average price is $274.03 and its two-hundred day moving average price is $286.44. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now owns 2,000 shares of the company's stock, valued at approximately $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction 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. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in Autodesk in the fourth quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in shares of Autodesk in the 1st quarter worth approximately $27,000. SouthState Corp lifted its holdings in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the 4th quarter worth approximately $29,000. Finally, Tradewinds Capital Management LLC increased its holdings in Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.