Autodesk, Inc. (NASDAQ:ADSK) Receives $340.45 Consensus PT from Brokerages

Shares of Autodesk, Inc. (NASDAQ:ADSK) have received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $340.45.

A number of equities research analysts recently issued reports on the company. Citigroup boosted their price objective on Autodesk from $374.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. DA Davidson set a $305.00 price objective on shares of Autodesk and gave the stock a “neutral” rating in a report on Friday, May 23rd. Robert W. Baird raised their price target on Autodesk from $303.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $340.00 price target on shares of Autodesk in a research report on Tuesday, May 20th. Finally, Bank of America raised their target price on Autodesk from $290.00 to $330.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 3,110 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $310.00, for a total value of $964,100.00. Following the sale, the executive vice president directly owned 22,691 shares of the company’s stock, valued at $7,034,210. The trade was a 12.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 6,140 shares of company stock worth $1,885,820 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company’s stock worth $5,440,968,000 after purchasing an additional 397,458 shares during the last quarter. Ninety One UK Ltd raised its position in Autodesk by 1.6% in the first quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company’s stock worth $1,347,400,000 after acquiring an additional 79,900 shares during the period. Geode Capital Management LLC boosted its stake in shares of Autodesk by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after acquiring an additional 45,623 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Autodesk by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,454,264 shares of the software company’s stock worth $904,326,000 after purchasing an additional 400,514 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Autodesk by 44.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,318,319 shares of the software company’s stock worth $868,736,000 after purchasing an additional 1,016,187 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

ADSK opened at $310.34 on Monday. Autodesk has a fifty-two week low of $223.03 and a fifty-two week high of $326.62. The firm has a 50-day moving average of $293.60 and a 200 day moving average of $285.50. 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 has a market cap of $66.41 billion, a P/E ratio of 66.45, a PEG ratio of 3.00 and a beta of 1.44.

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.