Stifel Nicolaus Reaffirms “Buy” Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a research note issued on Friday, Benzinga reports. They presently have a $316.00 price target on the software company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 33.34% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Piper Sandler raised their price objective on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Piper Sandler Companies boosted their target price on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. KeyCorp increased their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. TheStreet raised shares of Autodesk from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Finally, Oppenheimer increased their price objective on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Stock Performance

NASDAQ:ADSK opened at $236.98 on Friday. The stock’s 50-day moving average is $255.73 and its 200-day moving average is $234.70. Autodesk has a 1-year low of $188.38 and a 1-year high of $279.53. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The stock has a market cap of $50.69 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 3.31 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $1.26 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Autodesk will post 5.38 earnings per share for the current year.

Insider Transactions at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Deborah Clifford sold 5,553 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the completion of the sale, the chief financial officer now directly owns 32,259 shares in the company, valued at $8,387,662.59. The disclosure for this sale can be found here. Insiders sold a total of 46,770 shares of company stock worth $12,065,385 in the last quarter. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk in the 4th quarter valued at $25,000. Garner Asset Management Corp bought a new stake in Autodesk in the fourth quarter worth $26,000. Bfsg LLC purchased a new stake in Autodesk during the fourth quarter valued at about $27,000. Rakuten Securities Inc. bought a new position in shares of Autodesk during the fourth quarter valued at about $28,000. Finally, Harbour Investments Inc. grew its stake in shares of Autodesk by 76.9% during the fourth quarter. Harbour Investments Inc. now owns 115 shares of the software company’s stock valued at $28,000 after buying an additional 50 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.