Autodesk (NASDAQ:ADSK) Price Target Raised to $280.00 at Mizuho

Autodesk (NASDAQ:ADSK) had its target price hoisted by equities research analysts at Mizuho from $260.00 to $280.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the software company’s stock. Mizuho’s price objective would indicate a potential downside of 11.94% from the company’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada lifted their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Robert W. Baird lifted their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Bank of America lifted their target price on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Morgan Stanley lifted their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer boosted their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.38.

Autodesk Trading Down 0.4 %

Shares of NASDAQ ADSK traded down $1.43 during trading on Wednesday, reaching $317.96. The stock had a trading volume of 2,519,923 shares, compared to its average volume of 1,448,773. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The business’s 50-day moving average price is $288.49 and its 200-day moving average price is $256.59. The company has a market cap of $68.36 billion, a P/E ratio of 65.02, a PEG ratio of 4.08 and a beta of 1.47.

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

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 50.36 % 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 over the last quarter. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk during the first quarter worth about $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk during the first quarter worth about $26,000. Olistico Wealth LLC purchased a new stake in shares of Autodesk during the second quarter worth about $26,000. Pacifica Partners Inc. increased its position in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Autodesk during the third quarter worth about $27,000. 90.24% of the stock is owned by hedge funds and other 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.