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

Autodesk (NASDAQ:ADSK) had its price objective lowered by Stifel Nicolaus from $350.00 to $310.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 20.66% from the company’s previous close.

A number of other research firms also recently weighed in on ADSK. Morgan Stanley increased their price target on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Bank of America lifted their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. DA Davidson lifted their price target on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Scotiabank dropped their price target on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Finally, Barclays raised their price objective on Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $329.64.

Autodesk Trading Down 2.5 %

Shares of ADSK stock traded down $6.60 during trading hours on Thursday, reaching $256.93. The company had a trading volume of 205,677 shares, compared to its average volume of 1,686,186. The company has a 50 day moving average of $274.39 and a 200 day moving average of $287.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $54.73 billion, a price-to-earnings ratio of 50.98, a P/E/G ratio of 2.94 and a beta of 1.49. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Insiders Place Their Bets

In related news, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $534,200. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of Autodesk in the fourth quarter worth $25,000. Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the fourth quarter worth $29,000. Tradewinds Capital Management LLC grew its stake in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Autodesk in the fourth quarter worth $30,000. Finally, Addison Advisors LLC grew its stake in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after purchasing an additional 74 shares during the last quarter. Institutional investors 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.