Brokerages Set Autodesk, Inc. (NASDAQ:ADSK) Target Price at $331.50

Autodesk, Inc. (NASDAQ:ADSK) has received an average rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $333.77.

A number of analysts have commented on ADSK shares. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Wells Fargo & Company increased their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. BMO Capital Markets lifted their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Finally, HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research note on Friday, November 29th.

Autodesk Stock Up 0.2 %

ADSK stock opened at $306.85 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $65.97 billion, a PE ratio of 60.88, a P/E/G ratio of 3.67 and a beta of 1.43. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a 50 day simple moving average of $298.81 and a 200 day simple moving average of $279.99.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. Equities research analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently bought and sold shares of the company. Lake Street Advisors Group LLC lifted its position in shares of Autodesk by 11.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,081 shares of the software company’s stock worth $615,000 after purchasing an additional 213 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Autodesk by 55.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 30,693 shares of the software company’s stock worth $9,072,000 after buying an additional 11,005 shares during the last quarter. Exchange Capital Management Inc. boosted its position in shares of Autodesk by 3.4% in the fourth quarter. Exchange Capital Management Inc. now owns 2,062 shares of the software company’s stock valued at $609,000 after acquiring an additional 67 shares during the period. Addison Advisors LLC increased its position in Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares during the period. Finally, RWC Asset Management LLP bought a new position in Autodesk during the fourth quarter worth $4,015,000. 90.24% of the stock is currently owned by 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.