Robert W. Baird Boosts Autodesk (NASDAQ:ADSK) Price Target to $363.00

Key Points

• Analysts at Robert W. Baird have increased Autodesk's price target from $345 to $363, indicating a potential upside of 25.83% from the stock's previous close.
• Multiple ratings have been given to Autodesk's stock, with a consensus rating of "Moderate Buy" and an average price target of $346.52 among various analysts.
• Insider sales were noted, with EVP Rebecca Pearce selling 3,251 shares, and overall, insiders have sold nearly 9,400 shares in the last three months.

Autodesk (NASDAQ:ADSK - Free Report) had its price target lifted by Robert W. Baird from $345.00 to $363.00 in a research report sent to investors on Friday morning, MarketBeat reports. Robert W. Baird currently has an outperform rating on the software company's stock.

ADSK has been the subject of several other research reports. Wells Fargo & Company lifted their target price on Autodesk from $360.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday. Berenberg Bank upgraded Autodesk from a "hold" rating to a "buy" rating and lifted their target price for the stock from $325.00 to $365.00 in a research report on Friday, June 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 target price on shares of Autodesk in a research report on Tuesday, May 20th. Royal Bank Of Canada restated an "outperform" rating and set a $345.00 price objective (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Finally, Citigroup boosted their price objective on Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Stock Performance

Shares of ADSK traded up $4.46 during mid-day trading on Friday, hitting $319.16. The stock had a trading volume of 2,664,199 shares, compared to its average volume of 1,627,041. The company has a market cap of $68.30 billion, a PE ratio of 66.08, a PEG ratio of 3.03 and a beta of 1.49. The company's fifty day simple moving average is $297.93 and its two-hundred day simple moving average is $284.66. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. Autodesk has a fifty-two week low of $232.67 and a fifty-two week high of $326.62.

Insiders Place Their Bets

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the completion of the transaction, the executive vice president owned 13,311 shares in the company, valued at approximately $4,300,251.66. The trade was a 31.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ayanna Howard sold 3,159 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $325.00, for a total value of $1,026,675.00. Following the transaction, the director owned 4,393 shares of the company's stock, valued at $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,679 shares of company stock valued at $5,916,595 in the last quarter. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Autodesk in the 2nd quarter worth $2,081,000. Neuberger Berman Group LLC raised its stake in shares of Autodesk by 7.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 117,974 shares of the software company's stock worth $36,521,000 after buying an additional 7,969 shares in the last quarter. Stance Capital LLC bought a new stake in shares of Autodesk in the 2nd quarter worth $2,154,000. Coppell Advisory Solutions LLC raised its position in shares of Autodesk by 180.1% during the second quarter. Coppell Advisory Solutions LLC now owns 9,790 shares of the software company's stock worth $2,987,000 after purchasing an additional 6,295 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Autodesk during the second quarter worth $1,376,000. Institutional investors own 90.24% of the company's stock.

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.