Autodesk (NASDAQ:ADSK) Given New $275.00 Price Target at Oppenheimer

Autodesk (NASDAQ:ADSK) had its price objective lowered by Oppenheimer from $315.00 to $275.00 in a research report report published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the software company’s stock.

Other research analysts have also issued reports about the company. Piper Sandler Companies raised their price objective on Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a research report on Friday, March 1st. The Goldman Sachs Group raised their price objective on Autodesk from $180.00 to $230.00 and gave the company a sell rating in a research report on Friday, March 1st. StockNews.com lowered Autodesk from a strong-buy rating to a buy rating in a research report on Friday, April 26th. Rosenblatt Securities raised their price objective on Autodesk from $265.00 to $290.00 and gave the company a buy rating in a research report on Friday, March 1st. Finally, Stifel Nicolaus reissued a buy rating and issued a $316.00 price objective on shares of Autodesk in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of Hold and an average price target of $270.17.

Autodesk Trading Down 2.2 %

Shares of ADSK opened at $215.16 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $46.36 billion, a P/E ratio of 51.11, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. The stock’s fifty day simple moving average is $232.39 and its 200 day simple moving average is $236.93. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. On average, equities research analysts forecast that Autodesk will post 5.38 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 5,000 shares of Autodesk stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares of the company’s stock, valued at $9,285,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,616 shares of company stock worth $9,319,448. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burney Co. raised its holdings in shares of Autodesk by 2.5% during the first quarter. Burney Co. now owns 29,727 shares of the software company’s stock valued at $7,741,000 after buying an additional 719 shares during the last quarter. Atria Investments Inc raised its holdings in shares of Autodesk by 0.4% during the first quarter. Atria Investments Inc now owns 66,727 shares of the software company’s stock valued at $17,377,000 after buying an additional 271 shares during the last quarter. Swedbank AB bought a new stake in shares of Autodesk during the first quarter valued at approximately $39,054,000. LRI Investments LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $26,000. Finally, Wahed Invest LLC raised its holdings in shares of Autodesk by 15.7% during the first quarter. Wahed Invest LLC now owns 4,245 shares of the software company’s stock valued at $1,105,000 after buying an additional 576 shares during the last quarter. 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.