Autodesk (NASDAQ:ADSK) Given New $335.00 Price Target at Bank of America

Autodesk (NASDAQ:ADSK) had its price target upped by investment analysts at Bank of America from $325.00 to $335.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software company’s stock. Bank of America‘s price target points to a potential upside of 9.39% from the stock’s previous close.

ADSK has been the subject of several other research reports. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Wells Fargo & Company upped their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Barclays increased their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley upped their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Oppenheimer boosted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $333.77.

Autodesk Stock Performance

Autodesk stock opened at $306.23 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The company’s 50-day moving average price is $299.08 and its 200-day moving average price is $279.55. The company has a market cap of $65.84 billion, a PE ratio of 60.76, a price-to-earnings-growth ratio of 3.67 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Autodesk in the fourth quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in shares of Autodesk in the 3rd quarter valued at $27,000. Concord Wealth Partners purchased a new stake in Autodesk during the third quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in Autodesk during the third quarter valued at $28,000. Finally, Tradewinds Capital Management LLC increased its holdings in Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. 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.