Autodesk (NASDAQ:ADSK) Hits New 12-Month High – Should You Buy?

Autodesk, Inc. (NASDAQ:ADSK) shares reached a new 52-week high on Wednesday . The company traded as high as $304.31 and last traded at $304.31, with a volume of 66585 shares trading hands. The stock had previously closed at $291.79.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research report on Monday, August 26th. Finally, Mizuho set a $260.00 price target on shares of Autodesk in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Price Performance

The firm has a market capitalization of $65.68 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 3.65 and a beta of 1.47. 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 business has a 50-day moving average price of $274.06 and a two-hundred day moving average price of $247.03.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,200,929 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk in the first quarter valued at $25,000. LRI Investments LLC bought a new stake in Autodesk in the first quarter worth about $26,000. Livelsberger Financial Advisory acquired a new stake in Autodesk in the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the 3rd quarter valued at about $28,000. Finally, Concord Wealth Partners acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.