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

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Mizuho from $260.00 to $280.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the software company’s stock.

Several other equities analysts have also commented on the stock. BMO Capital Markets increased their price objective on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday. Scotiabank started coverage on shares of Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Citigroup boosted their price objective on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada raised their price objective on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $315.10.

Autodesk Trading Up 0.4 %

Shares of ADSK stock opened at $291.90 on Wednesday. The stock’s 50-day moving average price is $289.93 and its 200-day moving average price is $257.88. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The stock has a market capitalization of $62.76 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts predict that Autodesk will post 5.74 EPS for the current fiscal year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the 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 transaction, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Starboard Value LP purchased a new stake in shares of Autodesk in the 3rd quarter worth approximately $510,189,000. Ninety One UK Ltd lifted its holdings in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the period. Van ECK Associates Corp boosted its position in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after acquiring an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

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.