Autodesk (NASDAQ:ADSK) Price Target Raised to $330.00 at KeyCorp

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

ADSK has been the subject of several other research reports. Robert W. Baird raised their price objective on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday. Barclays raised their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler raised their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Bank of America increased their target price on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets lifted their target price on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $302.38.

Autodesk Stock Up 2.4 %

ADSK stock opened at $315.22 on Wednesday. The firm has a 50-day simple moving average of $285.29 and a 200-day simple moving average of $253.88. Autodesk has a 52 week low of $195.32 and a 52 week high of $317.45. The stock 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. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities 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 stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly 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 at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,280 shares of company stock worth $5,232,213. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after acquiring an additional 4,563,668 shares during the period. Starboard Value LP bought a new stake in Autodesk during the 3rd quarter worth approximately $510,189,000. Ninety One UK Ltd raised its holdings in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp lifted its position in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

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.