Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Barclays Analyst Says

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Barclays from $325.00 to $355.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the software company’s stock.

ADSK has been the subject of a number of other research reports. Stifel Nicolaus increased their price objective on Autodesk from $310.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Citigroup reissued a “buy” rating and issued a $374.00 target price (up from $346.00) on shares of Autodesk in a research note on Tuesday, May 20th. Macquarie reissued an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a research note on Friday, February 28th. Bank of America increased their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, BMO Capital Markets increased their target price on Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $337.18.

Autodesk Price Performance

ADSK opened at $295.35 on Friday. The stock has a fifty day simple moving average of $271.64 and a two-hundred day simple moving average of $286.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 58.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62.

Insider Buying and Selling at Autodesk

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

Institutional Trading of Autodesk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in Autodesk during the 4th quarter valued at approximately $25,000. Cheviot Value Management LLC bought a new stake in Autodesk during the 1st quarter valued at approximately $27,000. SouthState Corp raised its stake in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Investment Management Corp VA ADV bought a new stake in Autodesk during the 4th quarter valued at approximately $29,000. Finally, Tradewinds Capital Management LLC raised its stake in Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Institutional investors own 90.24% of the company’s stock.

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.