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

Autodesk (NASDAQ:ADSK) had its price target hoisted by Mizuho from $260.00 to $280.00 in a report released on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the software company’s stock.

Several other brokerages have also recently commented on ADSK. DA Davidson started coverage on shares of Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their price target for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. BMO Capital Markets increased their price objective on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday. Morgan Stanley boosted their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Rosenblatt Securities upped their target price on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $315.10.

Autodesk Trading Up 0.4 %

NASDAQ:ADSK opened at $291.90 on Wednesday. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The stock’s fifty day moving average price is $289.93 and its two-hundred day moving average price is $257.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The company has a market cap of $62.76 billion, a P/E ratio of 57.92, a P/E/G ratio of 3.71 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. As a group, analysts expect that Autodesk will post 5.74 EPS for the current year.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now owns 31,349 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 1,936 shares of company stock worth $549,333. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADSK. New Covenant Trust Company N.A. purchased a new position in Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC purchased a new position in shares of Autodesk during the first quarter valued at about $26,000. Olistico Wealth LLC purchased a new position in shares of Autodesk during the second quarter valued at about $26,000. Pacifica Partners Inc. raised its stake in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in Autodesk during the 3rd quarter valued at approximately $27,000. Institutional investors 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.