Citigroup Boosts Autodesk (NASDAQ:ADSK) Price Target to $376.00

Autodesk (NASDAQ:ADSK) had its price objective raised by research analysts at Citigroup from $374.00 to $376.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the software company’s stock. Citigroup’s target price would indicate a potential upside of 25.66% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Mizuho lowered their target price on Autodesk from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group increased their price objective on shares of Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. DA Davidson set a $305.00 target price on shares of Autodesk and gave the company a “neutral” rating in a research report on Friday, May 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $340.00 target price on shares of Autodesk in a report on Tuesday, May 20th. Finally, Stifel Nicolaus lifted their price target on shares of Autodesk from $310.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $337.45.

Autodesk Stock Down 0.4%

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

Insider Activity

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

Institutional Investors Weigh In On Autodesk

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Autodesk in the first quarter worth approximately $14,095,000. Foresight Group Ltd Liability Partnership purchased a new stake in shares of Autodesk during the first quarter valued at $30,409,000. Advisors Capital Management LLC grew its holdings in shares of Autodesk by 5.3% in the first quarter. Advisors Capital Management LLC now owns 1,062 shares of the software company’s stock worth $278,000 after purchasing an additional 53 shares during the last quarter. Acadian Asset Management LLC increased its stake in Autodesk by 675.0% in the 1st quarter. Acadian Asset Management LLC now owns 47,430 shares of the software company’s stock worth $12,409,000 after buying an additional 41,310 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Autodesk by 18.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,720 shares of the software company’s stock worth $712,000 after buying an additional 427 shares during the period. Hedge funds and other institutional investors 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.