Investment analysts at CIBC began coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued on Friday. The firm set an “outperform” rating and a $135.00 price target on the software company’s stock. CIBC’s price target points to a potential upside of 29.95% from the stock’s current price.
A number of other research analysts have also commented on the stock. KeyCorp reiterated a “buy” rating and set a $128.00 price objective on shares of Autodesk in a research note on Friday, November 10th. Deutsche Bank set a $140.00 price objective on shares of Autodesk and gave the company a “buy” rating in a research note on Wednesday, November 29th. Canaccord Genuity restated a “buy” rating and issued a $140.00 price target (up previously from $125.00) on shares of Autodesk in a research report on Thursday, November 16th. Royal Bank of Canada restated a “buy” rating on shares of Autodesk in a research report on Wednesday, November 15th. Finally, Guggenheim lifted their price target on shares of Autodesk from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $132.77.
Autodesk (NASDAQ:ADSK) traded down $0.54 during midday trading on Friday, hitting $103.89. 1,534,500 shares of the company were exchanged, compared to its average volume of 2,142,359. Autodesk has a fifty-two week low of $73.60 and a fifty-two week high of $131.10. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.78. The firm has a market capitalization of $23,000.00, a price-to-earnings ratio of -40.42 and a beta of 1.91.
In other Autodesk news, SVP Fronzo Pascal W. Di sold 580 shares of Autodesk stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $110.91, for a total transaction of $64,327.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 5,738 shares of Autodesk stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $128.14, for a total transaction of $735,267.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,395 shares of company stock worth $6,184,155. Corporate insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Meritage Group LP lifted its stake in shares of Autodesk by 3,910.0% in the 3rd quarter. Meritage Group LP now owns 2,243,728 shares of the software company’s stock valued at $251,881,000 after purchasing an additional 2,187,774 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Autodesk in the 2nd quarter valued at $208,956,000. Renaissance Technologies LLC acquired a new stake in shares of Autodesk in the 2nd quarter valued at $140,338,000. Neuberger Berman Group LLC lifted its stake in shares of Autodesk by 979.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 978,964 shares of the software company’s stock valued at $98,699,000 after purchasing an additional 888,233 shares during the last quarter. Finally, Fred Alger Management Inc. lifted its stake in shares of Autodesk by 52.3% in the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after purchasing an additional 829,021 shares during the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.
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About Autodesk
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
