Autodesk (NASDAQ:ADSK) Given New $295.00 Price Target at Citigroup

Autodesk (NASDAQ:ADSK) had its price target upped by Citigroup from $286.00 to $295.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the software company’s stock.

A number of other research analysts have also commented on the stock. Robert W. Baird decreased their price target on shares of Autodesk from $296.00 to $289.00 and set an outperform rating on the stock in a research note on Wednesday, May 29th. StockNews.com lowered shares of Autodesk from a strong-buy rating to a buy rating in a research note on Friday, April 26th. Piper Sandler decreased their price target on shares of Autodesk from $260.00 to $239.00 and set a neutral rating on the stock in a research note on Monday, June 3rd. Bank of America decreased their price target on shares of Autodesk from $300.00 to $260.00 and set a neutral rating on the stock in a research note on Monday, June 3rd. Finally, Piper Sandler Companies increased their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $262.42.

Autodesk Stock Up 1.2 %

Autodesk stock opened at $225.87 on Wednesday. The firm has a market capitalization of $48.79 billion, a PE ratio of 48.89, a P/E/G ratio of 3.03 and a beta of 1.43. The company’s 50-day moving average is $218.73 and its 200-day moving average is $237.41. Autodesk has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.75.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 EPS. Sell-side analysts anticipate that Autodesk will post 5.41 earnings per share for the current year.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Deborah Clifford sold 5,553 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the completion of the transaction, the chief financial officer now directly owns 32,259 shares of the company’s stock, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,438 shares of company stock valued at $7,393,778. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk in the 4th quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Autodesk in the 1st quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Autodesk in the 1st quarter valued at approximately $26,000. Finally, Bfsg LLC acquired a new position in Autodesk in the 4th quarter valued at approximately $27,000. 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.