Rosenblatt Securities Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its target price upped by Rosenblatt Securities from $295.00 to $325.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ target price points to a potential upside of 11.82% from the company’s previous close.

Several other research analysts have also recently issued reports on ADSK. HSBC raised Autodesk from a “hold” rating to a “buy” rating and upped their price objective for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Barclays upped their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. DA Davidson initiated coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Morgan Stanley upped their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $315.38.

Autodesk Trading Down 8.6 %

ADSK opened at $290.64 on Wednesday. The business has a fifty day moving average price of $289.44 and a 200 day moving average price of $257.07. 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 12 month low of $195.32 and a 12 month high of $326.62. The stock has a market capitalization of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced 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. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $1.33 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

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 firm’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 directly 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 disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock worth $549,333 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently made changes to their positions in ADSK. Marshall Financial Group LLC boosted its holdings in Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after buying an additional 35 shares in the last quarter. Avitas Wealth Management LLC boosted its stake in shares of Autodesk by 0.8% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after acquiring an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after acquiring an additional 44 shares during the period. Meeder Asset Management Inc. increased its stake in Autodesk by 28.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after purchasing an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after purchasing an additional 45 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.