Citigroup Boosts Autodesk (NASDAQ:ADSK) Price Target to $361.00

Autodesk (NASDAQ:ADSK) had its target price increased by equities researchers at Citigroup from $358.00 to $361.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software company’s stock. Citigroup’s price target indicates a potential upside of 23.67% from the company’s previous close.

ADSK has been the topic of several other research reports. Oppenheimer raised their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus raised their target price on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Bank of America increased their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Barclays boosted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.10.

Autodesk Stock Up 0.4 %

Shares of ADSK opened at $291.90 on Friday. The firm has a fifty day moving average price of $289.93 and a 200-day moving average price of $257.88. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $62.76 billion, a P/E ratio of 57.92, a P/E/G ratio of 3.71 and a beta of 1.47. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. Equities research analysts expect that Autodesk will post 5.74 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of the company’s 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 owns 4,879 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $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. Insiders sold 1,936 shares of company stock worth $549,333 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of Autodesk by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares during the period. Synovus Financial Corp increased its holdings in Autodesk by 3.4% in the third quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock valued at $3,522,000 after buying an additional 421 shares in the last quarter. Tidal Investments LLC raised its position in shares of Autodesk by 245.4% in the third quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock worth $21,214,000 after acquiring an additional 54,712 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Autodesk during the 3rd quarter worth about $4,751,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Autodesk during the 3rd quarter valued at about $3,923,000. 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.