Autodesk (NASDAQ:ADSK) Price Target Raised to $358.00

Autodesk (NASDAQ:ADSK) had its price target raised by investment analysts at Citigroup from $325.00 to $358.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the software company’s stock. Citigroup’s target price points to a potential upside of 12.09% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Oppenheimer upped their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank of Canada upped their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus lifted their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Up 1.3 %

NASDAQ ADSK traded up $3.97 during trading hours on Friday, reaching $319.38. 686,319 shares of the company traded hands, compared to its average volume of 1,571,112. The company has a 50 day moving average of $285.29 and a two-hundred day moving average of $253.88. Autodesk has a 12 month low of $195.32 and a 12 month high of $319.76. The stock has a market capitalization of $68.67 billion, a PE ratio of 65.33, a PEG ratio of 3.90 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $1.12 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Financial Group LLC grew its stake in shares of Autodesk by 0.8% in the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after purchasing an additional 35 shares during the last quarter. Avitas Wealth Management LLC grew its position in shares of Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after buying an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after buying an additional 44 shares during the period. Meeder Asset Management Inc. raised its position in shares of Autodesk by 28.9% during the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock worth $54,000 after acquiring an additional 44 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after acquiring an additional 45 shares during the period. Institutional investors 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.