Autodesk (NASDAQ:ADSK) Price Target Raised to $361.00 at Piper Sandler

Autodesk (NASDAQ:ADSK) had its price target raised by equities research analysts at Piper Sandler from $357.00 to $361.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. Piper Sandler’s price target suggests a potential upside of 20.64% from the company’s current price.

A number of other research analysts have also recently commented on the stock. DA Davidson set a $305.00 target price on shares of Autodesk and gave the stock a “neutral” rating in a report on Friday, May 23rd. KeyCorp reissued an “overweight” rating and issued a $350.00 target price (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Citigroup reissued a “buy” rating and issued a $374.00 target price (up previously from $346.00) on shares of Autodesk in a report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their target price on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Finally, Bank of America increased their target price on shares of Autodesk from $290.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $337.45.

Autodesk Stock Down 0.4%

ADSK stock opened at $299.23 on Tuesday. The stock has a market capitalization of $64.02 billion, a P/E ratio of 59.37, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a 50-day moving average price of $273.48 and a 200-day moving average price of $286.56.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the 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 completion of the sale, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This represents a 44.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now directly 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. Insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

Large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in shares of Autodesk during the 4th quarter worth approximately $25,000. SouthState Corp grew its position in shares of Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after buying an additional 80 shares during the period. Costello Asset Management INC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $26,000. Close Asset Management Ltd acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $27,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.