Stifel Nicolaus Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price target increased by Stifel Nicolaus from $320.00 to $340.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the software company’s stock.

A number of other research analysts have also recently weighed in on ADSK. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Piper Sandler boosted their price target on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Mizuho set a $260.00 price objective on Autodesk in a report on Friday, October 18th. Oppenheimer upped their target price on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Barclays increased their price target on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $296.20.

Autodesk Stock Performance

ADSK traded down $7.50 on Friday, hitting $299.15. 2,300,222 shares of the company traded hands, compared to its average volume of 1,579,473. The company has a 50 day moving average of $281.32 and a 200-day moving average of $251.23. Autodesk has a 12-month low of $195.32 and a 12-month high of $315.73. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $64.32 billion, a PE ratio of 61.18, a PEG ratio of 4.00 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Sell-side analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 over the last three months. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. lifted its holdings in Autodesk by 9.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock valued at $369,000 after acquiring an additional 122 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Autodesk by 1.8% during the 1st quarter. Blair William & Co. IL now owns 13,409 shares of the software company’s stock worth $3,492,000 after purchasing an additional 241 shares in the last quarter. Vanguard Group Inc. grew its position in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after acquiring an additional 363,565 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Autodesk by 2.9% in the first quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after buying an additional 161 shares during the last quarter. Finally, Blue Barn Wealth LLC boosted its stake in shares of Autodesk by 6.5% during the 1st quarter. Blue Barn Wealth LLC now owns 2,113 shares of the software company’s stock worth $550,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds 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.