Autodesk (NASDAQ:ADSK) Raised to Buy at Berenberg Bank

Berenberg Bank upgraded shares of Autodesk (NASDAQ:ADSK - Free Report) from a hold rating to a buy rating in a report released on Friday, MarketBeat.com reports. They currently have $365.00 price target on the software company's stock, up from their previous price target of $325.00.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus upped their target price on shares of Autodesk from $310.00 to $350.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Oppenheimer reiterated an "outperform" rating and set a $350.00 target price (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 price objective (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. BMO Capital Markets raised their target price 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. Finally, The Goldman Sachs Group upped their price target on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and an average target price of $340.45.

Autodesk Stock Performance

NASDAQ:ADSK traded up $4.44 on Friday, hitting $309.57. The stock had a trading volume of 1,538,362 shares, compared to its average volume of 1,479,439. The business's 50-day simple moving average is $290.57 and its two-hundred day simple moving average is $285.10. The stock has a market cap of $66.25 billion, a price-to-earnings ratio of 66.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.45. Autodesk has a 52-week low of $223.03 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 2,544 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $305.00, for a total value of $775,920.00. Following the completion of the transaction, the executive vice president now owns 25,801 shares in the company, valued at approximately $7,869,305. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 3,087 shares of company stock valued at $936,607. Corporate insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of ADSK. Vanguard Group Inc. boosted its position in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after purchasing an additional 397,458 shares in the last quarter. Ninety One UK Ltd grew its stake in Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock valued at $1,347,400,000 after acquiring an additional 79,900 shares during the period. Geode Capital Management LLC increased its holdings in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock worth $1,391,145,000 after acquiring an additional 45,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Autodesk by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after acquiring an additional 400,514 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Autodesk by 44.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock valued at $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.