Autodesk (NASDAQ:ADSK) Price Target Lowered to $330.00 at Morgan Stanley

Autodesk (NASDAQ:ADSK) had its target price dropped by Morgan Stanley from $385.00 to $330.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 27.18% from the stock’s current price.

A number of other equities research analysts also recently commented on ADSK. Robert W. Baird cut their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. UBS Group lifted their target price on Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Oppenheimer reduced their price target on Autodesk from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Scotiabank lowered their price objective on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Bank of America increased their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $321.59.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $259.47 on Wednesday. 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 $55.27 billion, a price-to-earnings ratio of 51.48, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The business has a 50-day simple moving average of $268.85 and a two-hundred day simple moving average of $286.85. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. lifted its stake in shares of Autodesk by 1.9% during the 1st quarter. QRG Capital Management Inc. now owns 15,074 shares of the software company’s stock worth $3,946,000 after acquiring an additional 284 shares during the last quarter. Sagespring Wealth Partners LLC increased its stake in Autodesk by 33.7% in the first quarter. Sagespring Wealth Partners LLC now owns 2,304 shares of the software company’s stock worth $603,000 after purchasing an additional 581 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Autodesk during the first quarter worth $324,000. Mission Wealth Management LP boosted its stake in shares of Autodesk by 2.4% during the first quarter. Mission Wealth Management LP now owns 6,462 shares of the software company’s stock valued at $1,692,000 after purchasing an additional 152 shares during the period. Finally, Bank Pictet & Cie Europe AG purchased a new stake in shares of Autodesk during the first quarter valued at $1,108,000. Institutional investors own 90.24% of the company’s stock.

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.