Autodesk, Inc. (NASDAQ:ADSK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has been assigned an average rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $336.29.

Several equities analysts have weighed in on the company. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. Citigroup decreased their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Oppenheimer lifted their price target on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Macquarie reissued an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Finally, Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. Massachusetts Financial Services Co. MA lifted its position in shares of Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after acquiring an additional 2,307,960 shares in the last quarter. Norges Bank purchased a new stake in shares of Autodesk during the 4th quarter valued at about $632,566,000. Starboard Value LP purchased a new stake in shares of Autodesk during the 3rd quarter valued at about $510,189,000. Farallon Capital Management LLC purchased a new stake in shares of Autodesk during the 4th quarter valued at about $544,381,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after buying an additional 670,699 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

NASDAQ ADSK opened at $267.25 on Friday. The company has a market cap of $56.92 billion, a P/E ratio of 53.03, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50-day moving average of $285.99 and a two-hundred day moving average of $287.62. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

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.