Rosenblatt Securities Reaffirms “Buy” Rating for Autodesk (NASDAQ:ADSK)

Rosenblatt Securities reiterated their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research report sent to investors on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $340.00 price objective on the software company’s stock.

Several other equities analysts have also recently issued reports on the stock. UBS Group lifted their price objective on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Morgan Stanley decreased their price target on shares of Autodesk from $385.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on Autodesk from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Macquarie reissued an “outperform” rating and set a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. Finally, Citigroup decreased their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $323.59.

Autodesk Price Performance

NASDAQ:ADSK opened at $295.00 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $270.94 and its 200 day moving average price is $286.66. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The firm has a market cap of $63.11 billion, a P/E ratio of 58.53, a PEG ratio of 2.94 and a beta of 1.47.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company’s stock valued at $5,440,968,000 after purchasing an additional 397,458 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 1.6% during the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company’s stock valued at $1,347,400,000 after buying an additional 79,900 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after buying an additional 45,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Autodesk by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company’s stock valued at $904,326,000 after buying an additional 400,514 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Autodesk by 44.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company’s stock worth $868,736,000 after buying an additional 1,016,187 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.