Autodesk (NASDAQ:ADSK) Given New $358.00 Price Target at Citigroup

Autodesk (NASDAQ:ADSK) had its price target raised by equities researchers at Citigroup from $325.00 to $358.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Citigroup’s price target indicates a potential upside of 11.43% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada raised their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Stifel Nicolaus lifted their price objective on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, DA Davidson assumed coverage on shares of Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Stock Up 1.9 %

NASDAQ:ADSK opened at $321.27 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company’s fifty day moving average price is $286.44 and its 200-day moving average price is $254.89. Autodesk has a 1-year low of $195.32 and a 1-year high of $321.90. The firm has a market capitalization of $69.07 billion, a P/E ratio of 65.70, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. As a group, equities research analysts anticipate that Autodesk will post 5.73 EPS for the current year.

Insider Transactions at Autodesk

In related 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 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 approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk 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 transaction, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,232,213 in the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after acquiring an additional 288,931 shares during the period. FMR LLC lifted its stake in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after purchasing an additional 61,785 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during 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.