Autodesk (NASDAQ:ADSK) Given New $265.00 Price Target at DA Davidson

Autodesk (NASDAQ:ADSK) had its price target cut by DA Davidson from $285.00 to $265.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the software company’s stock.

Several other brokerages also recently commented on ADSK. Citigroup lowered their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus cut their target price on shares of Autodesk from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $325.00 target price on shares of Autodesk in a report on Tuesday, February 25th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.91.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $260.71 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50-day simple moving average is $271.43 and its 200 day simple moving average is $287.30. The stock has a market cap of $55.53 billion, a price-to-earnings ratio of 51.73, a PEG ratio of 2.94 and a beta of 1.49. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Insider Activity at Autodesk

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Autodesk by 12.6% during 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. SOA Wealth Advisors LLC. lifted its position in shares of Autodesk by 164.0% in the third quarter. SOA Wealth Advisors LLC. now owns 227 shares of the software company’s stock valued at $63,000 after acquiring an additional 141 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in shares of Autodesk by 11.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,882 shares of the software company’s stock worth $518,000 after acquiring an additional 188 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Autodesk in the third quarter worth about $3,923,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Autodesk during the 3rd quarter valued at approximately $4,751,000. Institutional investors own 90.24% of the company’s stock.

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.