Autodesk (NASDAQ:ADSK) Price Target Raised to $260.00 at Mizuho

Autodesk (NASDAQ:ADSK) had its target price increased by analysts at Mizuho from $230.00 to $260.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the software company’s stock. Mizuho’s price target would suggest a potential upside of 0.62% from the company’s previous close.

ADSK has been the topic of a number of other research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $239.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. KeyCorp restated an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a research report on Monday, August 26th. Bank of America decreased their price objective on Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Barclays cut their target price on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $290.00 price target on shares of Autodesk in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $283.33.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $258.40 on Friday. 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 fifty day moving average is $245.97 and its two-hundred day moving average is $239.37. Autodesk has a one year low of $192.01 and a one year high of $279.53. The firm has a market capitalization of $55.69 billion, a P/E ratio of 55.93, a PEG ratio of 3.23 and a beta of 1.48.

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

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk 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 in the company, valued at $7,916,693.82. The disclosure for this sale can be found here. Insiders have sold a total of 39,931 shares of company stock valued at $9,537,781 over the last quarter. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Autodesk by 263.6% during the first 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. Ninety One UK Ltd boosted its position in shares of Autodesk by 28.0% in 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 during the period. FIL Ltd boosted its position in shares of Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of Autodesk by 12.9% in the fourth quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock valued at $696,342,000 after buying an additional 327,144 shares in the last quarter. Hedge funds and other 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.