Autodesk (NASDAQ:ADSK) Price Target Raised to $375.00

Autodesk (NASDAQ:ADSK) had its target price hoisted by Morgan Stanley from $320.00 to $375.00 in a report issued on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the software company’s stock.

Other equities research analysts also recently issued reports about the company. Berenberg Bank lifted their target price on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report 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 target price on the stock. KeyCorp increased their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets increased their price objective on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Trading Up 1.9 %

NASDAQ:ADSK opened at $321.27 on Friday. Autodesk has a 52 week low of $195.32 and a 52 week high of $321.90. The firm’s fifty day moving average is $286.44 and its 200-day moving average is $254.61. The firm has a market cap of $69.07 billion, a P/E ratio of 65.70, a P/E/G ratio of 3.90 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 issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Autodesk will post 5.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in ADSK. Starboard Value LP purchased a new position in Autodesk in the third quarter valued at about $510,189,000. Ninety One UK Ltd lifted its stake in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp lifted its stake in Autodesk by 100.9% in the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after purchasing an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC increased its position in Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after buying an additional 566,826 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.