Autodesk (NASDAQ:ADSK) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research note released on Wednesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $340.00 price target on the software company’s stock.

A number of other brokerages have also issued reports on ADSK. Rosenblatt Securities raised their price target on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays raised their target price on shares of Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Berenberg Bank upped their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Piper Sandler increased their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Citigroup boosted their price objective on shares of Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.95.

Autodesk Stock Up 0.9 %

Shares of NASDAQ:ADSK opened at $289.19 on Wednesday. The company has a market capitalization of $62.32 billion, a P/E ratio of 62.60, a P/E/G ratio of 3.52 and a beta of 1.48. The stock’s fifty day simple moving average is $262.02 and its 200-day simple moving average is $241.56. Autodesk has a 52-week low of $192.01 and a 52-week high of $289.36. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.12 EPS. Autodesk’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the transaction, the director now owns 31,899 shares in the company, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,200,929 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Autodesk

A number of hedge funds have recently made changes to their positions in ADSK. Marshall Financial Group LLC boosted its stake in Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Autodesk by 3.8% during the third quarter. Bleakley Financial Group LLC now owns 3,512 shares of the software company’s stock worth $967,000 after purchasing an additional 129 shares during the last quarter. Greenup Street Wealth Management LLC acquired a new position in Autodesk in the third quarter worth about $2,618,000. Global Retirement Partners LLC increased its holdings in Autodesk by 2.8% in the third quarter. Global Retirement Partners LLC now owns 5,980 shares of the software company’s stock valued at $1,647,000 after buying an additional 162 shares during the last quarter. Finally, Probity Advisors Inc. acquired a new stake in Autodesk during the third quarter valued at approximately $226,000. 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.