Autodesk (NASDAQ:ADSK) Shares Up 4.2% – Time to Buy?

Autodesk, Inc. (NASDAQ:ADSK)’s stock price rose 4.2% during trading on Wednesday . The stock traded as high as $269.76 and last traded at $270.80. Approximately 216,518 shares traded hands during trading, a decline of 86% from the average daily volume of 1,579,148 shares. The stock had previously closed at $259.95.

Analysts Set New Price Targets

ADSK has been the topic of several recent analyst reports. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Scotiabank reduced their price target on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Wells Fargo & Company upped their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Stock Performance

The company has a market cap of $57.05 billion, a P/E ratio of 53.14, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $286.35 and a two-hundred day simple moving average of $287.55.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in Autodesk in the fourth quarter worth approximately $25,000. Investment Management Corp VA ADV bought a new position in Autodesk in the 4th quarter worth $29,000. Tradewinds Capital Management LLC lifted its position in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Autodesk during the fourth quarter valued at about $30,000. Finally, Addison Advisors LLC increased its position in Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after buying an additional 74 shares in the last quarter. 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.