Autodesk (NASDAQ:ADSK – Get Rating) had its target price cut by Rosenblatt Securities from $270.00 to $235.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 19.25% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Credit Suisse Group lowered their price objective on Autodesk from $355.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on Autodesk from $225.00 to $255.00 in a report on Thursday, August 25th. Wolfe Research assumed coverage on Autodesk in a report on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 price target on the stock. Citigroup reduced their price target on Autodesk from $277.00 to $256.00 and set a “buy” rating on the stock in a report on Friday, November 18th. Finally, Barclays reduced their price target on Autodesk from $275.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $240.19.
Autodesk Price Performance
Shares of Autodesk stock opened at $197.07 on Wednesday. The firm has a market cap of $42.54 billion, a PE ratio of 69.64, a PEG ratio of 1.85 and a beta of 1.49. Autodesk has a 12 month low of $163.20 and a 12 month high of $285.38. The stock has a 50 day moving average of $201.56 and a 200 day moving average of $198.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08.
In other news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction on Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now directly owns 76,968 shares in the company, valued at approximately $15,922,370.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ADSK. Venture Visionary Partners LLC acquired a new stake in shares of Autodesk in the 2nd quarter worth $30,000. TD Capital Management LLC acquired a new stake in shares of Autodesk in the 3rd quarter worth $30,000. Resources Management Corp CT ADV boosted its position in shares of Autodesk by 1,100.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock worth $31,000 after purchasing an additional 165 shares in the last quarter. CNB Bank boosted its position in shares of Autodesk by 107.9% in the 2nd quarter. CNB Bank now owns 185 shares of the software company’s stock worth $32,000 after purchasing an additional 96 shares in the last quarter. Finally, First Manhattan Co. boosted its position in shares of Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk Company Profile
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.
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