Citigroup Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price boosted by Citigroup from $325.00 to $358.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the software company’s stock.

A number of other equities analysts have also recently commented on ADSK. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Scotiabank assumed coverage on shares of Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target on the stock. Finally, Barclays upped their price objective on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Trading Up 1.9 %

Shares of NASDAQ:ADSK opened at $321.27 on Friday. The business’s 50 day moving average price is $286.44 and its 200-day moving average price is $254.61. Autodesk has a 1 year low of $195.32 and a 1 year high of $321.90. The firm has a market capitalization of $69.07 billion, a price-to-earnings ratio of 65.70, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the business’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 completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 over the last 90 days. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SOA Wealth Advisors LLC. lifted its holdings in Autodesk by 164.0% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company’s stock worth $63,000 after buying an additional 141 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Autodesk by 13.8% in the third quarter. TD Private Client Wealth LLC now owns 801 shares of the software company’s stock valued at $221,000 after acquiring an additional 97 shares in the last quarter. Fortem Financial Group LLC raised its stake in shares of Autodesk by 46.0% in the third quarter. Fortem Financial Group LLC now owns 7,656 shares of the software company’s stock valued at $2,109,000 after acquiring an additional 2,411 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Autodesk by 0.5% in the third quarter. Toronto Dominion Bank now owns 117,626 shares of the software company’s stock valued at $32,404,000 after purchasing an additional 622 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in Autodesk by 8.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,566 shares of the software company’s stock worth $1,275,000 after purchasing an additional 337 shares in the last quarter. Hedge funds and other institutional investors 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.