Autodesk (NASDAQ:ADSK) Price Target Raised to $295.00

Autodesk (NASDAQ:ADSK) had its price objective upped by Citigroup from $286.00 to $295.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the software company’s stock.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed an outperform rating and set a $320.00 price target on shares of Autodesk in a research note on Monday, April 1st. Barclays reduced their price target on shares of Autodesk from $310.00 to $275.00 and set an overweight rating on the stock in a report on Wednesday. Bank of America dropped their price objective on shares of Autodesk from $300.00 to $260.00 and set a neutral rating for the company in a research note on Monday, June 3rd. Piper Sandler Companies upped their target price on Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their price target on Autodesk from $232.00 to $293.00 and gave the stock a market perform rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $262.42.

Autodesk Stock Up 1.2 %

ADSK stock opened at $225.87 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $218.73 and its 200 day moving average price is $237.62. Autodesk has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a market cap of $48.79 billion, a P/E ratio of 48.89, a P/E/G ratio of 2.95 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Autodesk will post 5.59 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the sale, the chief financial officer now directly owns 32,259 shares in the company, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,438 shares of company stock worth $7,393,778. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently bought and sold shares of ADSK. DekaBank Deutsche Girozentrale boosted its stake in shares of Autodesk by 27.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 449,470 shares of the software company’s stock valued at $116,936,000 after buying an additional 96,703 shares during the last quarter. Cetera Advisors LLC boosted its stake in Autodesk by 567.2% during the 1st quarter. Cetera Advisors LLC now owns 20,235 shares of the software company’s stock valued at $5,269,000 after acquiring an additional 17,202 shares during the last quarter. Cetera Investment Advisers grew its holdings in Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after acquiring an additional 38,196 shares in the last quarter. Burney Co. increased its position in shares of Autodesk by 2.5% in the 1st quarter. Burney Co. now owns 29,727 shares of the software company’s stock worth $7,741,000 after purchasing an additional 719 shares during the last quarter. Finally, Atria Investments Inc raised its stake in shares of Autodesk by 0.4% in the 1st quarter. Atria Investments Inc now owns 66,727 shares of the software company’s stock valued at $17,377,000 after purchasing an additional 271 shares in 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.