Autodesk (NASDAQ:ADSK) Price Target Raised to $355.00

Key Points

• Rosenblatt Securities raised Autodesk's target price from $345 to $355, suggesting a potential upside of 23.05% from its previous close, while maintaining a "buy" rating.
• Other analysts have varying target prices for Autodesk, with Macquarie setting it at $360 and Wells Fargo at $375, indicating general bullish sentiment on the stock.
• In recent insider transactions, EVP Rebecca Pearce sold over 3,000 shares at an average price of $315, decreasing her ownership stake by 14.33%.

Autodesk (NASDAQ:ADSK - Free Report) had its target price lifted by Rosenblatt Securities from $345.00 to $355.00 in a research note published on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the software company's stock.

ADSK has been the subject of a number of other reports. Barclays lifted their price objective on Autodesk from $355.00 to $385.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group lifted their price objective on Autodesk from $370.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday. Mizuho lifted their price objective on Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday. Loop Capital began coverage on Autodesk in a research report on Monday, July 21st. They issued a "hold" rating and a $320.00 price objective for the company. Finally, Citigroup boosted their target price on Autodesk from $374.00 to $376.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Seventeen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Trading Up 1.4%

ADSK stock traded up $4.46 during midday trading on Friday, reaching $319.16. The stock had a trading volume of 2,664,199 shares, compared to its average volume of 1,627,041. The business has a fifty day simple moving average of $297.93 and a two-hundred day simple moving average of $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. The firm has a market cap of $68.30 billion, a price-to-earnings ratio of 66.08, a PEG ratio of 3.03 and a beta of 1.49. Autodesk has a twelve month low of $232.67 and a twelve month high of $326.62.

Insider Activity

In other news, Director Ayanna Howard sold 3,159 shares of Autodesk stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the transaction, the director owned 4,393 shares in the company, valued at $1,427,725. The trade was a 41.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $323.06, for a total value of $1,980,034.74. Following the transaction, the executive vice president owned 13,311 shares in the company, valued at $4,300,251.66. This trade represents a 31.53% 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 worth $5,916,595 in the last quarter. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors have recently modified their holdings of ADSK. SouthState Corp lifted its holdings in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Autodesk during the 1st quarter valued at about $26,000. Close Asset Management Ltd bought a new position in shares of Autodesk during the 1st quarter valued at about $27,000. Cheviot Value Management LLC bought a new stake in Autodesk in the 1st quarter valued at approximately $27,000. Finally, Flaharty Asset Management LLC bought a new stake in Autodesk in the 1st quarter valued at approximately $27,000. 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.