Autodesk (NASDAQ:ADSK) Price Target Raised to $355.00 at Barclays

Autodesk (NASDAQ:ADSK) had its price objective lifted by Barclays from $310.00 to $355.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software company’s stock. Barclays‘s target price indicates a potential upside of 17.12% from the company’s previous close.

A number of other analysts have also commented on the stock. Stifel Nicolaus upped their price objective on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Berenberg Bank raised their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. DA Davidson initiated coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective on the stock. BMO Capital Markets increased their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company started coverage on Autodesk in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.20.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $3.54 during trading on Friday, hitting $303.11. The company had a trading volume of 121,058 shares, compared to its average volume of 1,569,658. Autodesk has a 52 week low of $195.32 and a 52 week high of $315.73. The business’s 50-day moving average is $280.34 and its 200 day moving average is $250.66. The company has a market cap of $65.17 billion, a P/E ratio of 61.99, a PEG ratio of 4.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

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

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,730 shares of company stock valued at $5,064,430. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADSK. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the first quarter worth about $25,000. LRI Investments LLC bought a new stake in shares of Autodesk in the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk during the third quarter valued at approximately $28,000. Finally, Concord Wealth Partners bought a new stake in shares of Autodesk during the third quarter valued at approximately $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

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.