Autodesk (NASDAQ:ADSK) Sets New 1-Year High – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $304.31 and last traded at $304.31, with a volume of 66585 shares traded. The stock had previously closed at $291.79.

Analysts Set New Price Targets

Several research firms have commented on ADSK. Barclays raised their price objective on Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Mizuho set a $260.00 price objective on Autodesk in a research note on Friday, October 18th. DA Davidson assumed coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Finally, HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and boosted their target price for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.95.

Autodesk Stock Up 3.5 %

The firm’s 50 day moving average price is $273.11 and its two-hundred day moving average price is $246.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $64.92 billion, a price-to-earnings ratio of 59.67, a P/E/G ratio of 3.64 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Several large investors have recently made changes to their positions in ADSK. Marshall Financial Group LLC lifted its stake in shares of Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after purchasing an additional 35 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings in Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after buying an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its stake in shares of Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after acquiring an additional 44 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after acquiring an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings in Autodesk by 2.6% during the 3rd quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock worth $516,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds 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.