Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Barclays Analyst Says

Autodesk (NASDAQ:ADSK) had its target price lifted by equities researchers at Barclays from $310.00 to $355.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. Barclays‘s target price points to a potential upside of 17.12% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets increased their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Rosenblatt Securities boosted their target price on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Morgan Stanley reissued an “overweight” rating and issued a $320.00 price objective on shares of Autodesk in a research note on Monday, September 30th. Royal Bank of Canada raised their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, KeyCorp reiterated an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research report on Monday, August 26th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $295.20.

Autodesk Price Performance

NASDAQ ADSK traded down $3.54 during trading on Friday, reaching $303.11. 121,058 shares of the company traded hands, compared to its average volume of 1,569,658. Autodesk has a 1-year low of $195.32 and a 1-year high of $315.73. The company has a market cap of $65.17 billion, a price-to-earnings ratio of 61.99, a P/E/G ratio of 4.00 and a beta of 1.47. The stock’s 50 day moving average price is $280.34 and its two-hundred day moving average price is $250.66. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Autodesk will post 5.73 EPS for the current year.

Insider Activity

In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,730 shares of company stock valued at $5,064,430 in the last 90 days. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jag Capital Management LLC bought a new stake in Autodesk in the 3rd quarter valued at $13,861,000. Cetera Investment Advisers raised its stake in shares of Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares during the period. Forsta AP Fonden lifted its holdings in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Autodesk by 32.0% during the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock worth $3,702,000 after buying an additional 3,259 shares during the period. Finally, Primecap Management Co. CA grew its holdings in shares of Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after buying an additional 49,500 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

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.