Autodesk's (ADSK) Outperform Rating Reiterated at Royal Bank of Canada

Autodesk (NASDAQ:ADSK - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $345.00 target price on the software company's stock, up from their previous target price of $313.03. Royal Bank of Canada's target price would indicate a potential upside of 14.50% from the company's previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company cut their target price on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. 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 research note on Monday, March 17th. JPMorgan Chase & Co. decreased their price target on Autodesk from $300.00 to $280.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Bank of America upped their price target on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Mizuho lowered their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $337.45.

Autodesk Stock Up 0.3%

NASDAQ:ADSK traded up $0.94 during mid-day trading on Friday, hitting $301.30. 574,666 shares of the company's stock were exchanged, compared to its average volume of 1,636,825. Autodesk has a one year low of $195.32 and a one year high of $326.62. 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 business has a fifty day moving average price of $272.84 and a 200 day moving average price of $286.47. The company has a market cap of $64.46 billion, a PE ratio of 59.79, a P/E/G ratio of 2.94 and a beta of 1.47.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now owns 2,000 shares of the company's stock, valued at $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ADSK. Freedom Investment Management Inc. lifted its holdings in Autodesk by 2.4% in the first quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company's stock valued at $386,000 after acquiring an additional 34 shares during the period. Mount Yale Investment Advisors LLC increased its position in Autodesk by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company's stock worth $551,000 after purchasing an additional 35 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Autodesk by 1.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company's stock valued at $1,000,000 after purchasing an additional 35 shares during the last quarter. Journey Strategic Wealth LLC boosted its position in shares of Autodesk by 4.6% during the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company's stock valued at $247,000 after buying an additional 37 shares during the period. Finally, Financial Network Wealth Advisors LLC increased its stake in Autodesk by 34.9% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company's stock worth $37,000 after buying an additional 37 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.