Morgan Stanley Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its price objective raised by Morgan Stanley from $320.00 to $375.00 in a research note published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the software company’s stock.

A number of other analysts also recently weighed in on ADSK. Piper Sandler boosted their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Berenberg Bank upped their price objective 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. Bank of America upped their target price on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets increased their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Eight investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Price Performance

ADSK stock opened at $321.27 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company’s fifty day moving average price is $286.44 and its 200-day moving average price is $255.18. Autodesk has a one year low of $195.32 and a one year high of $321.90. The company 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.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results 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 analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. On average, equities analysts anticipate that Autodesk will post 5.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its position in Autodesk by 164.0% during the third quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company’s stock valued at $63,000 after buying an additional 141 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Autodesk by 13.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 801 shares of the software company’s stock worth $221,000 after acquiring an additional 97 shares in the last quarter. Fortem Financial Group LLC grew its position in shares of Autodesk by 46.0% during the 3rd quarter. Fortem Financial Group LLC now owns 7,656 shares of the software company’s stock valued at $2,109,000 after acquiring an additional 2,411 shares during the period. Toronto Dominion Bank increased its stake in shares of Autodesk by 0.5% in the 3rd quarter. Toronto Dominion Bank now owns 117,626 shares of the software company’s stock valued at $32,404,000 after purchasing an additional 622 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Autodesk by 8.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,566 shares of the software company’s stock valued at $1,275,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds 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.