Autodesk, Inc. (NASDAQ:ADSK) Receives $296.20 Consensus Price Target from Brokerages

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

A number of research analysts have commented on ADSK shares. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup boosted their target price on shares of Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird raised their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd.

Insider Buying and Selling at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. Starboard Value LP acquired a new stake in shares of Autodesk in the third quarter worth $510,189,000. Ninety One UK Ltd grew its holdings in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp raised its position in Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after buying an additional 825,165 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Up 1.9 %

Shares of Autodesk stock opened at $321.27 on Friday. 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 has a 1-year low of $195.32 and a 1-year high of $321.90. The business has a 50-day moving average of $286.44 and a 200-day moving average of $254.89. The company has a market capitalization of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, equities analysts forecast that Autodesk will post 5.73 EPS for the current fiscal year.

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.