Loop Capital Begins Coverage on Autodesk (NASDAQ:ADSK)

Equities research analysts at Loop Capital initiated coverage on shares of Autodesk (NASDAQ:ADSK - Get Free Report) in a research report issued on Monday,Benzinga reports. The brokerage set a "hold" rating and a $320.00 price target on the software company's stock. Loop Capital's price objective suggests a potential upside of 7.73% from the stock's current price.

Several other research analysts have also recently issued reports on ADSK. Oppenheimer reaffirmed an "outperform" rating and set a $350.00 price objective (up from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 price objective (up from $330.00) on shares of Autodesk in a research report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Robert W. Baird upped their price objective on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $345.00 price objective (up from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $342.61.

Autodesk Price Performance

NASDAQ:ADSK opened at $297.03 on Monday. Autodesk has a 52 week low of $223.03 and a 52 week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $63.56 billion, a P/E ratio of 63.60, a P/E/G ratio of 2.86 and a beta of 1.44. The stock's fifty day moving average is $298.88 and its two-hundred day moving average is $285.48.

Insider Activity

In other news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total transaction of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares of the company's stock, valued at approximately $6,123,600. This represents a 14.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 9,391 shares of company stock worth $2,909,885. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently bought and sold shares of ADSK. Brighton Jones LLC increased its stake in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after purchasing an additional 147 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Autodesk in the 4th quarter valued at approximately $202,000. LPL Financial LLC increased its stake in Autodesk by 13.7% in the 4th quarter. LPL Financial LLC now owns 194,851 shares of the software company's stock valued at $57,592,000 after purchasing an additional 23,438 shares in the last quarter. Vanguard Group Inc. increased its stake in Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company's stock valued at $6,025,331,000 after purchasing an additional 119,034 shares in the last quarter. Finally, Twin City Private Wealth LLC increased its stake in Autodesk by 3.8% in the 4th quarter. Twin City Private Wealth LLC now owns 2,771 shares of the software company's stock valued at $819,000 after purchasing an additional 101 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.

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