Wells Fargo & Company Boosts Autodesk (NASDAQ:ADSK) Price Target to $360.00

Autodesk (NASDAQ:ADSK - Get Free Report) had its price objective lifted by research analysts at Wells Fargo & Company from $345.00 to $360.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the software company's stock. Wells Fargo & Company's price objective suggests a potential upside of 22.76% from the company's current price.

ADSK has been the subject of several other research reports. Scotiabank decreased their price objective on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. KeyCorp increased their price target on Autodesk from $323.00 to $350.00 and gave the company an "overweight" rating in a research note on Friday. UBS Group boosted their price target on Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Morgan Stanley increased their price objective on shares of Autodesk from $330.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $340.00 target price on shares of Autodesk in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $334.91.

Autodesk Stock Down 0.6%

Shares of NASDAQ ADSK traded down $1.74 during trading hours on Friday, hitting $293.26. 1,787,724 shares of the stock were exchanged, compared to its average volume of 1,633,464. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a fifty day moving average price of $270.94 and a 200-day moving average price of $286.66. 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 cap of $62.74 billion, a PE ratio of 58.21, a PEG ratio of 2.94 and a beta of 1.47.

Insider Buying and Selling

In other news, Director John T. Cahill purchased 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 2,000 shares in the company, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of ADSK. Golden State Wealth Management LLC purchased a new stake in Autodesk during the 4th quarter worth approximately $25,000. SouthState Corp boosted its stake in shares of Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Autodesk during the first quarter worth approximately $26,000. Close Asset Management Ltd purchased a new position in Autodesk in the 1st quarter valued at $27,000. Finally, Cheviot Value Management LLC acquired a new stake in Autodesk during the 1st quarter worth $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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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