Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Citigroup Analyst Says

Autodesk (NASDAQ:ADSK) had its price target lifted by Citigroup from $325.00 to $358.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the software company’s stock.

A number of other analysts have also recently commented on ADSK. Berenberg Bank lifted their target price on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price target on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays boosted their price objective on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Scotiabank initiated coverage on shares of Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. Eight equities 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 stock. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $309.43.

Autodesk Stock Performance

Shares of ADSK stock opened at $321.27 on Friday. The firm has a fifty day moving average price of $286.44 and a 200 day moving average price of $254.61. The company has a market cap of $69.07 billion, a P/E ratio of 65.70, a PEG ratio of 3.90 and a beta of 1.47. Autodesk has a 12 month low of $195.32 and a 12 month high of $321.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $1.12 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % 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 three months. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC increased its stake in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after acquiring an additional 61,785 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.