Piper Sandler Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK - Free Report) had its target price increased by Piper Sandler from $357.00 to $361.00 in a report published on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the software company's stock.

A number of other analysts have also recently issued reports on ADSK. Scotiabank decreased their target price on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. The Goldman Sachs Group boosted their price objective on shares of Autodesk from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Macquarie restated an "outperform" rating and set a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Mizuho cut their price objective on Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Robert W. Baird upped their target price on Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $337.45.

Autodesk Trading Down 0.7%

Shares of ADSK stock traded down $2.23 on Tuesday, reaching $297.00. 1,250,140 shares of the stock were exchanged, compared to its average volume of 1,632,600. 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 stock has a market cap of $63.54 billion, a P/E ratio of 58.93, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The firm has a 50 day moving average of $274.03 and a two-hundred day moving average of $286.44. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Insider Activity

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

Hedge Funds Weigh In On Autodesk

Large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its stake in Autodesk by 196.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock valued at $2,394,000 after purchasing an additional 5,365 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Autodesk in the 4th quarter valued at approximately $13,906,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Autodesk by 25.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company's stock valued at $88,711,000 after purchasing an additional 60,963 shares in the last quarter. GAM Holding AG bought a new position in shares of Autodesk during the 4th quarter valued at $3,453,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Autodesk by 8.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,398 shares of the software company's stock worth $38,205,000 after purchasing an additional 9,877 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

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.