Autodesk (NASDAQ:ADSK) Given New $280.00 Price Target at JPMorgan Chase & Co.

Autodesk (NASDAQ:ADSK) had its target price dropped by research analysts at JPMorgan Chase & Co. from $300.00 to $280.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the software company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 8.98% from the company’s current price.

Several other research firms have also issued reports on ADSK. Morgan Stanley increased their target price on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Oppenheimer decreased their target price on shares of Autodesk from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird cut their price target on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, Scotiabank lowered their price objective 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 research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $329.64.

Autodesk Trading Down 2.5 %

Shares of NASDAQ:ADSK opened at $256.92 on Wednesday. The company has a market capitalization of $54.72 billion, a P/E ratio of 50.98, a P/E/G ratio of 2.94 and a beta of 1.49. Autodesk has a 1 year low of $195.32 and a 1 year 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 business’s 50 day simple moving average is $273.41 and its 200 day simple moving average is $287.35.

Insider Activity at Autodesk

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

Institutional Investors Weigh In On Autodesk

Institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its position in shares of Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after buying an additional 5,365 shares during the period. Brookstone Capital Management boosted its position in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after acquiring an additional 26,768 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Autodesk during the 4th quarter worth about $13,906,000. Robeco Institutional Asset Management B.V. raised its position in shares of Autodesk by 25.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company’s stock worth $88,711,000 after acquiring an additional 60,963 shares in the last quarter. Finally, GAM Holding AG acquired a new position in shares of Autodesk in the 4th quarter valued at about $3,453,000. 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.