Autodesk (NASDAQ:ADSK) Given New $350.00 Price Target at Oppenheimer

Autodesk (NASDAQ:ADSK) had its price target upped by Oppenheimer from $300.00 to $350.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the software company’s stock.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their price target for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Robert W. Baird raised their price target on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Finally, 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. Eight research 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. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Performance

NASDAQ:ADSK opened at $319.39 on Friday. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The firm has a 50 day moving average of $287.47 and a 200-day moving average of $255.89. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $68.67 billion, a P/E ratio of 65.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. Autodesk’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Autodesk

Large investors have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk during the 1st quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Autodesk during the 1st quarter worth about $26,000. Olistico Wealth LLC acquired a new position in shares of Autodesk during the 2nd quarter worth about $26,000. Pacifica Partners Inc. boosted 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 buying an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in shares of Autodesk during the 3rd quarter worth about $27,000. 90.24% of the stock is currently 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.