Autodesk (NASDAQ:ADSK) Sets New 12-Month High Following Analyst Upgrade

Autodesk, Inc. (NASDAQ:ADSK) hit a new 52-week high on Thursday after KeyCorp raised their price target on the stock from $325.00 to $330.00. KeyCorp currently has an overweight rating on the stock. Autodesk traded as high as $315.98 and last traded at $315.36, with a volume of 492500 shares. The stock had previously closed at $307.84.

A number of other research analysts also recently weighed in on ADSK. Barclays upped their price target on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Rosenblatt Securities boosted their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and lifted their price objective for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Mizuho set a $260.00 price target on Autodesk in a research note on Friday, October 18th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $302.38.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the 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 completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 in the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. Acadian Asset Management LLC grew its stake in Autodesk by 2.9% in the first quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after purchasing an additional 161 shares during the period. Bessemer Group Inc. lifted its position in Autodesk by 29.3% during the 1st quarter. Bessemer Group Inc. now owns 15,377 shares of the software company’s stock valued at $4,004,000 after acquiring an additional 3,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Autodesk by 19,480.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,874 shares of the software company’s stock worth $1,530,000 after acquiring an additional 5,844 shares in the last quarter. LGT Group Foundation bought a new stake in Autodesk during the first quarter worth about $92,000. Finally, CreativeOne Wealth LLC purchased a new stake in Autodesk in the first quarter worth about $414,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 2.4 %

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 stock has a market capitalization of $67.76 billion, a PE ratio of 62.95, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47. The company’s fifty day moving average price is $284.18 and its 200-day moving average price is $253.46.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm 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 company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. Analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

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.