Scotiabank Lowers Autodesk (NASDAQ:ADSK) Price Target to $315.00

Autodesk (NASDAQ:ADSK) had its target price reduced by research analysts at Scotiabank from $360.00 to $315.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the software company’s stock. Scotiabank’s price target would indicate a potential upside of 21.97% from the company’s current price.

Several other analysts have also recently commented on the stock. DA Davidson lifted their price objective on shares of Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Morgan Stanley increased their target price on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. UBS Group lifted their price target on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Stifel Nicolaus lowered their price objective on Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, KeyCorp raised their price objective on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Stock Up 1.5 %

NASDAQ ADSK traded up $3.83 during trading on Monday, hitting $258.26. The company’s stock had a trading volume of 329,278 shares, compared to its average volume of 1,576,678. The company has a market cap of $55.01 billion, a PE ratio of 51.25, a P/E/G ratio of 2.94 and a beta of 1.51. 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 business’s 50 day simple moving average is $288.74 and its 200-day simple moving average is $287.80. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADSK. Golden State Wealth Management LLC acquired a new position in shares of Autodesk during the fourth quarter worth about $25,000. Investment Management Corp VA ADV acquired a new position in Autodesk in the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC boosted its holdings in shares of Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Autodesk in the 4th quarter valued at $30,000. Finally, Addison Advisors LLC grew its holdings in shares of 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 purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.