Autodesk (NASDAQ:ADSK) Price Target Raised to $350.00

Autodesk (NASDAQ:ADSK) had its target price boosted by Wells Fargo & Company from $340.00 to $350.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software company’s stock.

Several other analysts also recently weighed in on ADSK. Bank of America boosted their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley increased their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus lifted their price target on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. Finally, Berenberg Bank lifted their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Stock Up 1.9 %

Shares of NASDAQ:ADSK opened at $321.27 on Friday. The firm has a market capitalization of $69.07 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk has a 52-week low of $195.32 and a 52-week high of $321.90. The firm has a fifty day moving average of $286.44 and a 200 day moving average of $255.18.

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

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’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 owns 31,349 shares in the company, valued at approximately $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 quarter, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ADSK. CreativeOne Wealth LLC bought a new stake in shares of Autodesk during the 1st quarter valued at $414,000. EP Wealth Advisors LLC bought a new position in shares of Autodesk in the first quarter worth about $202,000. Axxcess Wealth Management LLC lifted its position in shares of Autodesk by 61.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,022 shares of the software company’s stock valued at $527,000 after buying an additional 773 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Autodesk by 16.8% during the 1st quarter. Advisors Asset Management Inc. now owns 12,305 shares of the software company’s stock valued at $3,204,000 after acquiring an additional 1,766 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Autodesk by 20,050.0% in the 1st quarter. 1832 Asset Management L.P. now owns 2,015 shares of the software company’s stock worth $525,000 after acquiring an additional 2,005 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

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.