Autodesk (NASDAQ:ADSK) Stock Rating Upgraded by Berenberg Bank

Autodesk (NASDAQ:ADSK) was upgraded by equities research analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $365.00 price target on the software company’s stock, up from their previous price target of $325.00. Berenberg Bank’s price target indicates a potential upside of 19.62% from the company’s previous close.

A number of other brokerages also recently commented on ADSK. BMO Capital Markets boosted their target price on shares of Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research note on Friday, May 23rd. Macquarie restated an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday, February 28th. KeyCorp restated an “overweight” rating and issued a $350.00 price objective (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Piper Sandler upped their price objective on shares of Autodesk from $357.00 to $361.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Finally, Mizuho decreased their target price on shares of Autodesk from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $340.45.

Autodesk Stock Up 0.1%

Autodesk stock opened at $305.13 on Friday. 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 stock’s fifty day simple moving average is $290.57 and its 200-day simple moving average is $285.27. The firm has a market capitalization of $65.30 billion, a P/E ratio of 65.34, a P/E/G ratio of 2.94 and a beta of 1.45. Autodesk has a twelve month low of $223.03 and a twelve month high of $326.62.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 486 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $300.00, for a total value of $145,800.00. Following the completion of the transaction, the executive vice president now directly owns 28,345 shares of the company’s stock, valued at approximately $8,503,500. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 3,087 shares of company stock valued at $936,607. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AG2R LA Mondiale Gestion D Actifs purchased a new position in Autodesk in the first quarter valued at about $2,155,000. Strs Ohio purchased a new position in shares of Autodesk during the 1st quarter worth approximately $14,095,000. Foresight Group Ltd Liability Partnership purchased a new position in shares of Autodesk during the 1st quarter worth approximately $30,409,000. Advisors Capital Management LLC increased its stake in shares of Autodesk by 5.3% during the 1st 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 in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Autodesk by 675.0% during the 1st quarter. Acadian Asset Management LLC now owns 47,430 shares of the software company’s stock worth $12,409,000 after purchasing an additional 41,310 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.