Autodesk (NASDAQ:ADSK) Given New $305.00 Price Target at DA Davidson

Autodesk (NASDAQ:ADSK) had its target price increased by DA Davidson from $265.00 to $305.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the software company’s stock.

ADSK has been the topic of a number of other research reports. UBS Group increased their price target on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company lowered their price target on Autodesk from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets increased their price target on Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research report on Friday. Scotiabank lowered their price target on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $340.00 price target on shares of Autodesk in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $337.18.

Autodesk Stock Up 0.1%

Shares of ADSK opened at $295.35 on Friday. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $63.19 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.94 and a beta of 1.47. The stock’s 50-day moving average price is $271.64 and its 200-day moving average price is $286.69.

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at $802,671.87. This represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Cahill purchased 2,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now owns 2,000 shares in the company, valued at approximately $534,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Autodesk

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company’s stock valued at $5,440,968,000 after purchasing an additional 397,458 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Autodesk by 1.6% in the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company’s stock valued at $1,347,400,000 after purchasing an additional 79,900 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after purchasing an additional 45,623 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Autodesk by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company’s stock valued at $904,326,000 after buying an additional 400,514 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Autodesk by 44.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company’s stock valued at $868,736,000 after buying an additional 1,016,187 shares during the period. 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.