Mizuho Raises Autodesk (NASDAQ:ADSK) Price Target to $280.00

Autodesk (NASDAQ:ADSK) had its target price upped by stock analysts at Mizuho from $260.00 to $280.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software company’s stock. Mizuho’s price target indicates a potential downside of 3.66% from the stock’s current price.

ADSK has been the topic of several other reports. Berenberg Bank upped their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Oppenheimer upped their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. BMO Capital Markets increased their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday. Citigroup boosted their price objective on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Barclays increased their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $315.38.

Autodesk Trading Down 8.6 %

Shares of NASDAQ:ADSK opened at $290.64 on Wednesday. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. 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 capitalization of $62.49 billion, a P/E ratio of 59.44, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. The company has a 50-day simple moving average of $289.44 and a 200 day simple moving average of $257.07.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. Sell-side analysts forecast that Autodesk will post 5.73 earnings per share for the current year.

Insider Transactions at Autodesk

In other Autodesk 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 in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,936 shares of company stock valued at $549,333. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jag Capital Management LLC acquired a new stake in Autodesk in the third quarter valued at approximately $13,861,000. Cetera Investment Advisers lifted its stake in shares of Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after acquiring an additional 38,196 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Autodesk during the 3rd quarter valued at $12,643,000. Forsta AP Fonden grew its position in Autodesk by 7.9% during the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after purchasing an additional 73,363 shares in the last quarter. 90.24% of the stock is 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.