Autodesk (NASDAQ:ADSK) Given New $325.00 Price Target at Rosenblatt Securities

Autodesk (NASDAQ:ADSK) had its price objective hoisted by research analysts at Rosenblatt Securities from $295.00 to $325.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 2.21% from the company’s previous close.

Several other brokerages have also recently weighed in on ADSK. Barclays lifted their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. KeyCorp lifted their price objective on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Bank of America lifted their price objective on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.86.

Autodesk Stock Performance

NASDAQ:ADSK opened at $317.96 on Wednesday. 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 business has a fifty day simple moving average of $288.49 and a two-hundred day simple moving average of $256.59. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a market capitalization of $68.36 billion, a P/E ratio of 65.02, a P/E/G ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. On average, analysts expect that Autodesk will post 5.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This represents a 50.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,280 shares of company stock worth $5,232,213. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. New Covenant Trust Company N.A. bought a new position in Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC bought a new position in Autodesk in the 1st quarter valued at approximately $26,000. Olistico Wealth LLC bought a new position in Autodesk in the 2nd quarter valued at approximately $26,000. Pacifica Partners Inc. lifted its position in Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new position in Autodesk in the 3rd quarter valued at approximately $27,000. 90.24% of the stock is owned by institutional investors.

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.