Autodesk (NASDAQ:ADSK) Price Target Raised to $311.00 at Piper Sandler

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Piper Sandler from $257.00 to $311.00 in a research report released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the software company’s stock.

A number of other analysts also recently issued reports on ADSK. Stifel Nicolaus raised their target price on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Rosenblatt Securities increased their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. 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 price target on the stock. Barclays increased their price objective on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup lifted their target price on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Price Performance

Shares of Autodesk stock opened at $290.64 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The stock has a market capitalization of $62.49 billion, a P/E ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The business has a 50 day simple moving average of $289.02 and a two-hundred day simple moving average of $256.83.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the business earned $1.33 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that Autodesk will post 5.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,232,213 in the last quarter. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Autodesk

Several institutional investors have recently added to or reduced their stakes in the business. Starboard Value LP purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $510,189,000. Ninety One UK Ltd lifted its position in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp boosted its stake in Autodesk by 100.9% in the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Autodesk by 58,375.5% during the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Hedge funds and other 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.