Autodesk (NASDAQ:ADSK) Price Target Raised to $350.00

Autodesk (NASDAQ:ADSK) had its price target lifted by Oppenheimer from $300.00 to $350.00 in a research report report published on Friday,Benzinga reports. The firm currently has an outperform rating on the software company’s stock.

Several other brokerages also recently issued reports on ADSK. Stifel Nicolaus upped their price target on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Berenberg Bank increased their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. KeyCorp boosted their price target on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Barclays lifted their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, DA Davidson initiated coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $309.43.

Autodesk Stock Performance

NASDAQ ADSK opened at $321.27 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 company has a fifty day simple moving average of $286.44 and a 200 day simple moving average of $255.18. Autodesk has a 12-month low of $195.32 and a 12-month high of $321.90. The company has a market cap of $69.07 billion, a P/E ratio of 65.70, a PEG ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The company 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 for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. Sell-side analysts predict that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

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 shares were 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 directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 over the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC purchased a new position in Autodesk during the 1st quarter valued at about $26,000. Olistico Wealth LLC purchased a new position in Autodesk during the 2nd quarter valued at about $26,000. Pacifica Partners Inc. increased its holdings in Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares during the period. Finally, Livelsberger Financial Advisory purchased a new stake in Autodesk in the 3rd quarter worth approximately $27,000. Institutional investors own 90.24% of the company’s stock.

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.