Morgan Stanley Boosts Autodesk (NASDAQ:ADSK) Price Target to $370.00

Autodesk (NASDAQ:ADSK) had its price objective raised by Morgan Stanley from $330.00 to $370.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

Several other equities research analysts also recently commented on the stock. Scotiabank cut their target price on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. BMO Capital Markets lifted their price target on shares of Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a report on Friday. UBS Group boosted their price objective on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Macquarie restated an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a report on Friday, February 28th. Finally, Citigroup reaffirmed a “buy” rating and set a $374.00 target price (up from $346.00) on shares of Autodesk in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $337.18.

Autodesk Stock Performance

Shares of ADSK stock opened at $295.35 on Friday. The firm 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 company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $271.64 and its 200-day moving average price is $286.69. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62.

Insider Transactions at Autodesk

In related news, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $534,200. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’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 completion of the sale, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at $802,671.87. The trade was a 44.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Golden State Wealth Management LLC acquired a new stake in Autodesk in the fourth quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Autodesk during the first quarter worth approximately $27,000. SouthState Corp lifted its holdings in shares of Autodesk by 500.0% in the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Autodesk in the 4th quarter valued at $29,000. Finally, Tradewinds Capital Management LLC increased its stake in Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. 90.24% of the stock is owned by 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.