Autodesk (NASDAQ:ADSK) Price Target Raised to $350.00 at Oppenheimer

Autodesk (NASDAQ:ADSK) had its price target lifted by Oppenheimer from $300.00 to $350.00 in a research report sent to investors on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the software company’s stock.

Other research analysts also recently issued reports about the stock. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Berenberg Bank upped their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their price target for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Finally, KeyCorp increased their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Stock Up 1.9 %

Shares of NASDAQ:ADSK opened at $321.27 on Friday. The stock has a market capitalization of $69.07 billion, a P/E ratio of 65.70, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47. The stock’s 50-day moving average price is $286.44 and its 200-day moving average price is $254.61. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 12-month low of $195.32 and a 12-month high of $321.90.

Autodesk (NASDAQ:ADSK) last issued 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. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. Autodesk’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. On average, equities analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 in the last 90 days. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of institutional investors and hedge funds have recently modified their holdings of ADSK. State Street Corp lifted its holdings in shares of Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares in the last quarter. FMR LLC lifted its stake in Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the period. Ninety One UK Ltd boosted its holdings in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after acquiring an additional 61,785 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Institutional investors 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.