Oppenheimer Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

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

A number of other equities analysts have also weighed in on ADSK. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Rosenblatt Securities increased their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets boosted 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. KeyCorp raised their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Up 1.9 %

Shares of NASDAQ:ADSK opened at $321.27 on Friday. The stock has a fifty day simple moving average of $286.44 and a two-hundred day simple moving average of $255.18. The stock has a market capitalization of $69.07 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 4.03 and a beta of 1.47. Autodesk has a 12-month low of $195.32 and a 12-month high of $321.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results 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. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.12 EPS. Autodesk’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on 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 of the company’s stock, 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. Insiders have sold 19,280 shares of company stock valued at $5,232,213 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the first quarter worth $25,000. LRI Investments LLC purchased a new stake in Autodesk in the 1st quarter worth $26,000. Livelsberger Financial Advisory bought a new position in shares of Autodesk during the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the third quarter valued at about $28,000. Finally, Concord Wealth Partners bought a new stake in shares of Autodesk in the third quarter worth about $28,000. 90.24% of the stock is currently owned by institutional investors.

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.