Piper Sandler Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective boosted by Piper Sandler from $257.00 to $311.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software company’s stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Scotiabank started coverage on shares of Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective for the company. 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 report on Wednesday, November 20th. Finally, Citigroup boosted their price target on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.10.

Autodesk Stock Up 0.4 %

Autodesk stock opened at $291.90 on Wednesday. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. The firm has a market cap of $62.76 billion, a PE ratio of 57.92, a P/E/G ratio of 3.71 and a beta of 1.47. The firm’s 50 day moving average price is $289.93 and its two-hundred day moving average price is $257.59.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 earnings per share. On average, research analysts predict that Autodesk will post 5.74 EPS for the current fiscal year.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,936 shares of company stock worth $549,333. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its holdings in Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after buying an additional 387,309 shares during the last quarter. Synovus Financial Corp lifted its holdings in Autodesk by 3.4% during the third quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock worth $3,522,000 after acquiring an additional 421 shares in the last quarter. Tidal Investments LLC raised its position in shares of Autodesk by 245.4% during the third quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock worth $21,214,000 after purchasing an additional 54,712 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Autodesk during the 3rd quarter valued at about $4,751,000. Finally, World Investment Advisors LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at approximately $3,923,000. 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.