Citigroup Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective upped by Citigroup from $358.00 to $361.00 in a research report sent to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the software company’s stock.

Several other equities analysts have also issued reports on the stock. Scotiabank began coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target on the stock. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and upped their target price for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a research note on Friday. Berenberg Bank upped their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Mizuho lifted their target price on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $315.10.

Autodesk Stock Performance

Autodesk stock opened at $291.90 on Friday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a market capitalization of $62.76 billion, a PE ratio of 57.92, a P/E/G ratio of 3.71 and a beta of 1.47. The company has a 50 day moving average price of $289.93 and a 200-day moving average price of $257.59. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. As a group, equities analysts forecast that Autodesk will post 5.74 earnings per share for the current year.

Insider Activity

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 value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,936 shares of company stock worth $549,333 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently bought and sold shares of ADSK. LRI Investments LLC acquired a new position in shares of Autodesk during the 1st quarter worth approximately $26,000. Olistico Wealth LLC acquired a new position in Autodesk during the second quarter worth $26,000. Pacifica Partners Inc. grew its holdings 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 buying an additional 50 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk in the 3rd quarter worth $27,000. Finally, Concord Wealth Partners purchased a new position in shares of Autodesk during the 3rd quarter worth $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.