Autodesk, Inc. (NASDAQ:ADSK) Receives $296.20 Average Price Target from Analysts

Shares of Autodesk, Inc. (NASDAQ:ADSK) have earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $309.43.

ADSK has been the topic of a number of recent research reports. Scotiabank started coverage on shares of Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price on the stock. KeyCorp boosted their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup raised their price target on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities upped their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd.

Autodesk Price Performance

Autodesk stock opened at $321.27 on Friday. The company’s 50 day moving average is $286.44 and its two-hundred day moving average is $254.89. The firm has a market cap of $69.07 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 52-week low of $195.32 and a 52-week high of $321.90.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business posted $1.12 earnings per share. Autodesk’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts expect that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 in the last quarter. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Large investors have recently modified their holdings of the business. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Olistico Wealth LLC purchased a new position in Autodesk in the 2nd quarter valued at approximately $26,000. Pacifica Partners Inc. boosted its stake in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new position in Autodesk during the third quarter worth about $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.