Autodesk (NASDAQ:ADSK) Price Target Cut to $265.00 by Analysts at DA Davidson

Autodesk (NASDAQ:ADSK) had its target price cut by investment analysts at DA Davidson from $285.00 to $265.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the software company’s stock. DA Davidson’s price objective would suggest a potential downside of 0.13% from the stock’s previous close.

Several other brokerages have also weighed in on ADSK. Rosenblatt Securities reissued a “buy” rating and set a $325.00 target price on shares of Autodesk in a research report on Tuesday, February 25th. Oppenheimer cut their price objective on shares of Autodesk from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Bank of America boosted their price objective on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird dropped their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Finally, Scotiabank reduced their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $324.64.

Autodesk Stock Performance

NASDAQ:ADSK opened at $265.34 on Monday. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $56.52 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The business’s fifty day moving average price is $270.58 and its 200 day moving average price is $287.15.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The stock was bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. GPS Wealth Strategies Group LLC boosted its position in Autodesk by 30.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the software company’s stock worth $46,000 after purchasing an additional 41 shares in the last quarter. Fifth Third Bancorp increased its holdings in Autodesk by 2.9% during the 1st quarter. Fifth Third Bancorp now owns 8,414 shares of the software company’s stock valued at $2,203,000 after acquiring an additional 234 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in Autodesk by 13.1% during the 1st quarter. Simon Quick Advisors LLC now owns 787 shares of the software company’s stock valued at $206,000 after acquiring an additional 91 shares in the last quarter. Mainsail Financial Group LLC raised its position in Autodesk by 7.3% during the first quarter. Mainsail Financial Group LLC now owns 5,542 shares of the software company’s stock worth $1,451,000 after acquiring an additional 377 shares during the last quarter. Finally, USA Financial Formulas lifted its holdings in shares of Autodesk by 21.1% in the first quarter. USA Financial Formulas now owns 5,302 shares of the software company’s stock valued at $1,388,000 after purchasing an additional 922 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.