Autodesk's (ADSK) "Outperform" Rating Reaffirmed at Macquarie

Autodesk (NASDAQ:ADSK - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Macquarie in a research note issued on Friday,Benzinga reports. They presently have a $360.00 price target on the software company's stock. Macquarie's price target would indicate a potential upside of 28.09% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price objective 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. Stifel Nicolaus raised their target price on shares of Autodesk from $310.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 price objective on shares of Autodesk in a research note on Tuesday, May 20th. Mizuho decreased their target price on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Scotiabank decreased their price target on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $343.64.

Autodesk Price Performance

Autodesk stock traded down $5.05 during trading hours on Friday, hitting $281.06. 443,424 shares of the stock were exchanged, compared to its average volume of 1,495,558. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $60.15 billion, a P/E ratio of 60.16, a P/E/G ratio of 2.96 and a beta of 1.44. Autodesk has a 12 month low of $223.03 and a 12 month high of $326.62. The business's 50-day moving average is $298.03 and its two-hundred day moving average is $285.95.

Insider Buying and Selling

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. Insiders have sold 9,391 shares of company stock worth $2,909,885 over the last quarter. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in shares of Autodesk by 406.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after buying an additional 2,307,960 shares during the period. Norges Bank acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $632,566,000. Farallon Capital Management LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $544,381,000. GAMMA Investing LLC lifted its holdings in Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after purchasing an additional 1,465,204 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Autodesk during the 1st quarter worth approximately $278,383,000. Institutional investors own 90.24% of the company's stock.

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.

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