Oppenheimer Cuts Autodesk (NASDAQ:ADSK) Price Target to $300.00

Autodesk (NASDAQ:ADSK) had its target price decreased by stock analysts at Oppenheimer from $350.00 to $300.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software company’s stock. Oppenheimer’s price target points to a potential upside of 13.84% from the company’s previous close.

ADSK has been the subject of a number of other reports. Rosenblatt Securities restated a “buy” rating and set a $325.00 price target on shares of Autodesk in a research note on Tuesday, February 25th. Robert W. Baird reduced their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday, February 28th. KeyCorp lifted their price target on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price target on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $331.45.

Autodesk Stock Performance

ADSK stock opened at $263.53 on Tuesday. The company has a market cap of $56.13 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The stock’s fifty day moving average price is $274.39 and its 200-day moving average price is $287.44.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total transaction of $655,395.08. Following the sale, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Autodesk

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of Autodesk in the 4th quarter worth approximately $25,000. Investment Management Corp VA ADV bought a new stake in Autodesk in the fourth quarter worth $29,000. Tradewinds Capital Management LLC boosted its stake in Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Autodesk during the fourth quarter valued at $30,000. Finally, Addison Advisors LLC raised its stake in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after acquiring an additional 74 shares during the period. 90.24% of the stock is owned by institutional investors.

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.