Autodesk (NASDAQ:ADSK) Price Target Raised to $355.00

Autodesk (NASDAQ:ADSK) had its price objective increased by Barclays from $310.00 to $355.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the software company’s stock.

Several other brokerages also recently weighed in on ADSK. Stifel Nicolaus boosted their target price on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. DA Davidson assumed coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Bank of America boosted their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Finally, 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 research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.20.

Autodesk Trading Down 2.4 %

NASDAQ:ADSK opened at $299.15 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $281.32 and its 200-day simple moving average is $251.79. Autodesk has a 12-month low of $195.32 and a 12-month high of $315.73. The firm has a market cap of $64.32 billion, a P/E ratio of 61.18, a PEG ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 earnings per share. Equities analysts anticipate that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction 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 approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 in the last ninety days. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently bought and sold shares of the company. Jag Capital Management LLC bought a new position in Autodesk during the 3rd quarter worth approximately $13,861,000. Cetera Investment Advisers raised its position in shares of Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after acquiring an additional 38,196 shares in the last quarter. Forsta AP Fonden raised its position in shares of Autodesk by 7.9% during the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Autodesk by 32.0% during the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock worth $3,702,000 after purchasing an additional 3,259 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Autodesk by 8.2% in the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after purchasing an additional 49,500 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

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.