Autodesk (NASDAQ:ADSK) Price Target Raised to $299.00 at Berenberg Bank

Autodesk (NASDAQ:ADSK) had its price target hoisted by equities research analysts at Berenberg Bank from $286.00 to $299.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the software company’s stock. Berenberg Bank’s price target would indicate a potential upside of 13.89% from the company’s previous close.

Several other analysts have also issued reports on ADSK. Royal Bank of Canada upped their target price on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday. Barclays increased their price objective on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday. Mizuho upped their price target on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Citigroup lifted their price objective on shares of Autodesk from $295.00 to $316.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $283.06.

Autodesk Stock Up 1.7 %

NASDAQ ADSK traded up $4.31 during trading on Friday, hitting $262.54. The stock had a trading volume of 1,758,822 shares, compared to its average volume of 1,643,564. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50-day moving average price is $245.35 and its two-hundred day moving average price is $239.27. The company has a market capitalization of $56.58 billion, a PE ratio of 56.81, a P/E/G ratio of 3.23 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. As a group, sell-side analysts forecast that Autodesk will post 5.55 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the sale, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,931 shares of company stock valued at $9,537,781. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Norges Bank bought a new stake in shares of Autodesk during the fourth quarter worth $619,404,000. Ninety One UK Ltd increased its holdings in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after acquiring an additional 662,339 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.