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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Rosenblatt Securities lifted their target price on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Mizuho set a $260.00 price objective on shares of Autodesk in a research note on Friday, October 18th. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, DA Davidson began coverage on shares of Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Trading Up 1.1 %

The company has a 50 day moving average of $274.06 and a 200 day moving average of $247.03. The firm has a market cap of $65.68 billion, a P/E ratio of 62.48, a PEG ratio of 3.65 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts predict that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated 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 sale, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,200,929 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its position in Autodesk by 11.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,758 shares of the software company’s stock worth $718,000 after buying an additional 293 shares during the period. Empirical Finance LLC grew its stake in shares of Autodesk by 3.5% in the first quarter. Empirical Finance LLC now owns 7,787 shares of the software company’s stock worth $2,028,000 after acquiring an additional 261 shares during the last quarter. Empowered Funds LLC boosted its holdings in Autodesk by 23.4% in the 1st quarter. Empowered Funds LLC now owns 3,457 shares of the software company’s stock valued at $900,000 after purchasing an additional 656 shares during the period. Oppenheimer & Co. Inc. grew its position in Autodesk by 22.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,897 shares of the software company’s stock worth $2,057,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Forsta AP Fonden raised its position in shares of Autodesk by 6.2% during the first quarter. Forsta AP Fonden now owns 80,900 shares of the software company’s stock valued at $21,068,000 after buying an additional 4,700 shares during the last quarter. 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.