Autodesk (NASDAQ:ADSK) Price Target Raised to $358.00

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

A number of other brokerages also recently issued reports on ADSK. Mizuho set a $260.00 target price on Autodesk in a research note on Friday, October 18th. Wells Fargo & Company raised their price objective on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday. Rosenblatt Securities raised their target price on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Eight 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Stock Up 1.9 %

NASDAQ ADSK opened at $321.27 on Friday. The business has a fifty day moving average price of $286.44 and a 200 day moving average price of $255.18. Autodesk has a one year low of $195.32 and a one year high of $321.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $69.07 billion, a P/E ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $1.12 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Research analysts anticipate that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the company’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 transaction, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly 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 have sold 19,280 shares of company stock valued at $5,232,213 over the last quarter. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several large investors have recently bought and sold shares of the company. SOA Wealth Advisors LLC. grew its holdings in Autodesk by 164.0% in the third quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company’s stock valued at $63,000 after purchasing an additional 141 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in 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 purchasing an additional 97 shares during the last quarter. Fortem Financial Group LLC grew its holdings in 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 purchasing an additional 2,411 shares during the last quarter. Toronto Dominion Bank grew 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 last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Autodesk by 8.0% in the third quarter. Coldstream Capital Management Inc. now owns 4,566 shares of the software company’s stock valued at $1,275,000 after purchasing an additional 337 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

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.