Autodesk (NASDAQ:ADSK) Given New $325.00 Price Target at Rosenblatt Securities

Autodesk (NASDAQ:ADSK) had its target price lifted by stock analysts at Rosenblatt Securities from $295.00 to $325.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 2.21% from the company’s previous close.

A number of other brokerages have also issued reports on ADSK. Piper Sandler increased their price target on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. BMO Capital Markets increased their price target on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Berenberg Bank increased their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Finally, Mizuho set a $260.00 price objective on Autodesk in a research report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.86.

Autodesk Trading Down 0.4 %

NASDAQ:ADSK opened at $317.96 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $68.36 billion, a price-to-earnings ratio of 65.02, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. Autodesk has a one year low of $195.32 and a one year high of $326.62. The business has a fifty day moving average price of $288.49 and a 200-day moving average price of $256.59.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted $1.33 EPS. Autodesk’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Autodesk will post 5.73 EPS for the current year.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of Autodesk 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 completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $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. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 over the last ninety days. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the company. Jag Capital Management LLC purchased a new position in Autodesk in the third quarter worth $13,861,000. Cetera Investment Advisers grew its holdings in Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares during the last quarter. Forsta AP Fonden grew its holdings in Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after purchasing an additional 3,800 shares during the last quarter. Bank of Montreal Can grew its holdings in Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after purchasing an additional 73,363 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Autodesk by 32.0% in the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock worth $3,702,000 after purchasing an additional 3,259 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.