Rosenblatt Securities Reaffirms "Buy" Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $340.00 target price on the software company's stock. Rosenblatt Securities' price objective suggests a potential upside of 14.90% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Autodesk from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird raised their target price on shares of Autodesk from $303.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday. Morgan Stanley cut their price target on Autodesk from $385.00 to $330.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Citigroup lowered their price objective on Autodesk from $361.00 to $339.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Mizuho cut their target price on Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.00.

Autodesk Stock Performance

Shares of ADSK stock opened at $295.90 on Tuesday. The business has a 50-day simple moving average of $268.50 and a 200-day simple moving average of $286.50. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market cap of $63.31 billion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at Autodesk

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

Institutional Investors Weigh In On Autodesk

Hedge funds have recently made changes to their positions in the business. Merit Financial Group LLC grew its position in Autodesk by 84.2% in the 4th quarter. Merit Financial Group LLC now owns 1,728 shares of the software company's stock valued at $511,000 after buying an additional 790 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Autodesk by 7.2% in the fourth quarter. Arkadios Wealth Advisors now owns 2,591 shares of the software company's stock valued at $766,000 after purchasing an additional 175 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Autodesk in the fourth quarter valued at about $210,000. Aaron Wealth Advisors LLC boosted its holdings in Autodesk by 5.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,187 shares of the software company's stock valued at $351,000 after purchasing an additional 59 shares in the last quarter. Finally, Grove Bank & Trust increased its position in Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company's stock worth $130,000 after purchasing an additional 37 shares during the period. 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.

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