Autodesk (NASDAQ:ADSK) Price Target Raised to $260.00 at Royal Bank of Canada

Autodesk (NASDAQ:ADSKGet Rating) had its price objective boosted by Royal Bank of Canada from $257.00 to $260.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the software company’s stock.

ADSK has been the subject of a number of other research reports. StockNews.com initiated coverage on Autodesk in a report on Wednesday, October 12th. They set a buy rating for the company. Oppenheimer reiterated an outperform rating and set a $255.00 target price on shares of Autodesk in a report on Tuesday, October 4th. Wolfe Research started coverage on shares of Autodesk in a research note on Tuesday, August 16th. They set an outperform rating and a $270.00 price objective for the company. Rosenblatt Securities reduced their price objective on shares of Autodesk from $285.00 to $270.00 and set a buy rating for the company in a research note on Thursday, August 25th. Finally, Moffett Nathanson initiated coverage on shares of Autodesk in a research note on Thursday, September 22nd. They set a sell rating and a $206.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $240.19.

Autodesk Price Performance

ADSK stock opened at $197.07 on Monday. The stock has a 50-day moving average price of $201.56 and a two-hundred day moving average price of $198.86. The stock has a market cap of $42.54 billion, a PE ratio of 69.64, a price-to-earnings-growth ratio of 1.85 and a beta of 1.49. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08. Autodesk has a 1 year low of $163.20 and a 1 year high of $285.38.

Autodesk (NASDAQ:ADSKGet Rating) last released its earnings results on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.70. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Equities analysts forecast that Autodesk will post 4.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, CEO Andrew Anagnost sold 34,366 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the sale, the chief executive officer now owns 76,968 shares of the company’s stock, valued at $15,922,370.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Steel Peak Wealth Management LLC grew its stake in shares of Autodesk by 1.0% during the second quarter. Steel Peak Wealth Management LLC now owns 5,050 shares of the software company’s stock worth $868,000 after buying an additional 50 shares during the last quarter. Slow Capital Inc. grew its stake in shares of Autodesk by 0.4% in the third quarter. Slow Capital Inc. now owns 14,021 shares of the software company’s stock worth $2,619,000 after purchasing an additional 50 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in Autodesk by 8.7% in the first quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock valued at $136,000 after buying an additional 51 shares during the period. Hartford Investment Management Co. lifted its holdings in Autodesk by 0.3% in the second quarter. Hartford Investment Management Co. now owns 20,807 shares of the software company’s stock valued at $3,578,000 after buying an additional 54 shares during the period. Finally, Bartlett & Co. LLC lifted its holdings in Autodesk by 5.8% in the second quarter. Bartlett & Co. LLC now owns 980 shares of the software company’s stock valued at $169,000 after buying an additional 54 shares during the period. Institutional investors own 86.44% of the company’s stock.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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