KeyCorp Reaffirms Overweight Rating for Autodesk (NASDAQ:ADSK)

KeyCorp reaffirmed their overweight rating on shares of Autodesk (NASDAQ:ADSK - Free Report) in a report released on Friday morning, MarketBeat.com reports. The brokerage currently has a $350.00 price objective on the software company's stock, up from their previous price objective of $323.00.

A number of other equities research analysts have also issued reports on the company. Citigroup reaffirmed a "buy" rating and issued a $374.00 price target (up previously from $346.00) on shares of Autodesk in a research report on Tuesday, May 20th. Scotiabank decreased their price target on shares of Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Oppenheimer reissued an "outperform" rating and issued a $350.00 price objective (up from $300.00) on shares of Autodesk in a research report on Friday. Stifel Nicolaus reduced their price objective on shares of Autodesk from $350.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Autodesk from $300.00 to $280.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $337.18.

Autodesk Stock Up 0.1%

NASDAQ:ADSK traded up $0.35 during midday trading on Friday, reaching $295.35. The company had a trading volume of 3,196,593 shares, compared to its average volume of 1,638,970. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.94 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock's fifty day simple moving average is $271.64 and its 200-day simple moving average is $286.45.

Insider Activity

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

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after purchasing an additional 397,458 shares during the period. Ninety One UK Ltd lifted its stake in shares of Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after acquiring an additional 79,900 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company's stock valued at $1,391,145,000 after acquiring an additional 45,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Autodesk by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company's stock worth $904,326,000 after acquiring an additional 400,514 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Autodesk by 44.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company's stock worth $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.