Autodesk (NASDAQ:ADSK) Price Target Raised to $340.00 at Stifel Nicolaus

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Stifel Nicolaus from $320.00 to $340.00 in a report issued on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

ADSK has been the subject of a number of other research reports. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $320.00 price objective on shares of Autodesk in a report on Monday, September 30th. Piper Sandler increased their price objective on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Barclays boosted their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Rosenblatt Securities raised their price target on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.20.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $299.15 on Friday. Autodesk has a 12 month low of $195.32 and a 12 month high of $315.73. The stock has a 50 day moving average of $281.32 and a 200-day moving average of $251.79. 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 company has a market capitalization of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, equities research analysts predict that Autodesk will post 5.73 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated 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 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. Over the last 90 days, insiders sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ADSK. Jag Capital Management LLC bought a new stake in Autodesk during the 3rd quarter worth approximately $13,861,000. Cetera Investment Advisers grew its stake in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares during the last quarter. Forsta AP Fonden increased its holdings in Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares during the period. QRG Capital Management Inc. raised its position in Autodesk by 32.0% during the 3rd 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 lifted its holdings in Autodesk by 8.2% during the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after buying an additional 49,500 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.