Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Barclays Analyst Says

Autodesk (NASDAQ:ADSK) had its target price upped by research analysts at Barclays from $310.00 to $355.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software company’s stock. Barclays‘s price objective indicates a potential upside of 18.67% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Berenberg Bank raised their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Oppenheimer lifted their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Piper Sandler lifted their price target on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus lifted their price target on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $296.20.

Autodesk Stock Performance

Autodesk stock opened at $299.15 on Friday. The company has a market capitalization of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47. The business has a 50 day moving average of $281.32 and a 200-day moving average of $251.23. 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 $315.73.

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

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of 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 in the last quarter. Starboard Value LP acquired a new stake in shares of Autodesk in the 3rd quarter worth $510,189,000. Ninety One UK Ltd boosted its position in shares of Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after purchasing an additional 825,165 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other 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.