Autodesk (NASDAQ:ADSK) Sets New 1-Year High – Should You Buy?

Autodesk, Inc. (NASDAQ:ADSK) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $291.20 and last traded at $291.20, with a volume of 2589 shares traded. The stock had previously closed at $289.19.

Analyst Ratings Changes

ADSK has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price objective on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays boosted their price target on shares of Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. KeyCorp reissued an “overweight” rating and issued a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. Finally, Mizuho set a $260.00 price target on shares of Autodesk in a research note on Friday. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Price Performance

The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average is $264.10 and its 200-day moving average is $242.13. The company has a market cap of $63.14 billion, a PE ratio of 63.42, a PEG ratio of 3.52 and a beta of 1.48.

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

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 owns 31,899 shares in the company, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,280 shares of company stock worth $5,200,929. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ADSK. Concord Wealth Partners bought a new position in shares of Autodesk in the first quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new position in shares of Autodesk in the first quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the first quarter worth approximately $26,000. Olistico Wealth LLC bought a new position in shares of Autodesk in the second quarter worth approximately $26,000. Finally, Pacifica Partners Inc. lifted its stake in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares in 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.