KeyCorp Cuts Autodesk (NASDAQ:ADSK) Price Target to $323.00

Autodesk (NASDAQ:ADSK) had its price target cut by KeyCorp from $335.00 to $323.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Several other research firms have also recently issued reports on ADSK. Morgan Stanley upped their price objective on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Bank of America increased their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Barclays reduced their price objective on shares of Autodesk from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus dropped their target price on shares of Autodesk from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $321.59.

Autodesk Price Performance

Autodesk stock opened at $259.47 on Wednesday. The stock has a market cap of $55.27 billion, a P/E ratio of 51.48, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company has a fifty day simple moving average of $268.04 and a 200-day simple moving average of $286.80. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62.

Insider Activity at Autodesk

In other news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the purchase, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk 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 completion of the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of large investors have recently modified their holdings of the business. Mount Yale Investment Advisors LLC grew its holdings in Autodesk by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after acquiring an additional 35 shares during the period. Y.D. More Investments Ltd lifted its holdings in Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after acquiring an additional 35 shares during the period. Grove Bank & Trust boosted its position in shares of Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after purchasing an additional 37 shares in the last quarter. Journey Strategic Wealth LLC grew its stake in shares of Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after purchasing an additional 37 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Autodesk by 11.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after purchasing an additional 38 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.