Autodesk (NASDAQ:ADSK - Get Free Report) was upgraded by DA Davidson from a "neutral" rating to a "buy" rating in a research note issued on Monday,Benzinga reports. The brokerage presently has a $375.00 target price on the software company's stock, up from their previous target price of $305.00. DA Davidson's target price would suggest a potential upside of 18.76% from the company's previous close.
Other research analysts have also issued reports about the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 target price on shares of Autodesk in a report on Tuesday, May 20th. Royal Bank Of Canada reissued an "outperform" rating and set a $345.00 target price (up from $313.03) on shares of Autodesk in a research note on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $370.00 target price (up from $330.00) on shares of Autodesk in a report on Friday, May 23rd. KeyCorp restated an "overweight" rating and set a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Finally, Piper Sandler upped their price target on shares of Autodesk from $357.00 to $361.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $343.64.
Get Our Latest Stock Analysis on ADSK
Autodesk Stock Performance
ADSK opened at $315.76 on Monday. The business has a 50 day moving average price of $295.40 and a two-hundred day moving average price of $285.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $67.57 billion, a price-to-earnings ratio of 67.61, a price-to-earnings-growth ratio of 3.05 and a beta of 1.44. Autodesk has a 1-year low of $223.03 and a 1-year high of $326.62.
Insider Buying and Selling at Autodesk
In other news, EVP Rebecca Pearce sold 3,251 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the sale, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 9,391 shares of company stock valued at $2,909,885. 0.15% of the stock is currently owned by company insiders.
Institutional Trading of Autodesk
Several hedge funds have recently added to or reduced their stakes in ADSK. Massachusetts Financial Services Co. MA increased its holdings in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock worth $849,858,000 after purchasing an additional 2,307,960 shares during the period. Norges Bank acquired a new stake in Autodesk during the fourth quarter worth about $632,566,000. Farallon Capital Management LLC bought a new position in Autodesk during the fourth quarter valued at about $544,381,000. GAMMA Investing LLC lifted its position in shares of Autodesk by 27,505.2% in the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after acquiring an additional 1,465,204 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $278,383,000. Institutional investors own 90.24% of the company's stock.
About Autodesk
(
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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.
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