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

Autodesk (NASDAQ:ADSK) had its price target hoisted by Barclays from $310.00 to $355.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

A number of other equities analysts also recently weighed in on ADSK. Bank of America upped their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company started coverage on Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 target price on the stock. HSBC raised Autodesk from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Stifel Nicolaus raised their price target on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, DA Davidson began 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. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $296.20.

Autodesk Trading Down 2.4 %

Shares of Autodesk stock traded down $7.50 on Friday, reaching $299.15. 2,300,222 shares of the company were exchanged, compared to its average volume of 1,579,473. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The firm has a market capitalization of $64.32 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 4.00 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $281.32 and a 200-day moving average price of $251.23.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating 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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts expect that Autodesk will post 5.73 EPS for the current year.

Insider Transactions at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Starboard Value LP bought a new position in shares of Autodesk in the 3rd quarter valued at about $510,189,000. Ninety One UK Ltd raised its stake in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares in 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 acquiring an additional 825,165 shares during the last quarter. Finally, 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 worth $208,610,000 after purchasing an additional 662,339 shares during the period. 90.24% of the stock is owned by institutional investors.

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.