Autodesk (NASDAQ:ADSK) Price Target Lowered to $280.00 at JPMorgan Chase & Co.

Autodesk (NASDAQ:ADSK) had its price objective trimmed by JPMorgan Chase & Co. from $300.00 to $280.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the software company’s stock.

A number of other equities analysts also recently commented on the stock. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Stifel Nicolaus cut their target price on Autodesk from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price target on shares of Autodesk in a report on Tuesday, February 25th. Finally, DA Davidson boosted their price objective on shares of Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.64.

Autodesk Trading Down 4.8 %

NASDAQ ADSK traded down $12.74 on Wednesday, reaching $250.80. 473,993 shares of the company were exchanged, compared to its average volume of 1,687,262. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The stock has a market capitalization of $53.42 billion, a P/E ratio of 49.51, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The business’s fifty day moving average price is $274.39 and its 200 day moving average price is $287.44. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $534,200. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Autodesk by 196.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock valued at $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Autodesk by 1,058.9% in the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after buying an additional 26,768 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Autodesk during the 4th quarter worth $13,906,000. Robeco Institutional Asset Management B.V. grew its position in Autodesk by 25.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company’s stock worth $88,711,000 after buying an additional 60,963 shares during the period. Finally, GAM Holding AG acquired a new stake in Autodesk in the fourth quarter valued at $3,453,000. Hedge funds and other 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.