Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, KeyCorp Analyst Says

Autodesk (NASDAQ:ADSK) had its price objective boosted by analysts at KeyCorp from $325.00 to $330.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the software company’s stock. KeyCorp’s target price indicates a potential upside of 4.69% from the company’s current price.

ADSK has been the topic of a number of other research reports. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. DA Davidson started coverage on shares of Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Wells Fargo & Company began coverage on shares of Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price objective on the stock. Robert W. Baird raised their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Berenberg Bank increased their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $302.38.

Autodesk Trading Up 2.4 %

Shares of ADSK stock opened at $315.22 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $67.77 billion, a P/E ratio of 64.46, a P/E/G ratio of 3.90 and a beta of 1.47. Autodesk has a 12-month low of $195.32 and a 12-month high of $317.45. The firm has a 50-day moving average price of $285.29 and a 200 day moving average price of $253.88.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. Research analysts forecast that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk in the 1st quarter worth $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the 1st quarter valued at about $26,000. Olistico Wealth LLC purchased a new position in shares of Autodesk in the 2nd quarter worth approximately $26,000. Pacifica Partners Inc. raised its stake in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in Autodesk during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors 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.