Autodesk (NASDAQ:ADSK) Sets New 52-Week High – Should You Buy?

Autodesk, Inc. (NASDAQ:ADSK) shares reached a new 52-week high on Friday . The stock traded as high as $279.83 and last traded at $279.65, with a volume of 80522 shares traded. The stock had previously closed at $277.71.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. DA Davidson assumed coverage on Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Royal Bank of Canada increased their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Autodesk Trading Up 1.3 %

The company has a market capitalization of $60.48 billion, a price-to-earnings ratio of 56.79, a P/E/G ratio of 3.52 and a beta of 1.48. The company has a 50-day moving average price of $257.64 and a 200-day moving average price of $241.01. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last issued 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. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. Research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated 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 approximately $1,340,944.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,183,340 over the last three months. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk in the fourth quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in shares of Autodesk in the first quarter valued at approximately $25,000. New Covenant Trust Company N.A. bought a new position in shares of Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the first quarter valued at approximately $26,000. Finally, Olistico Wealth LLC bought a new position in shares of Autodesk in the second quarter valued at approximately $26,000. Institutional investors 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.