Autodesk (NASDAQ:ADSK) Price Target Cut to $345.00 by Analysts at Wells Fargo & Company

Autodesk (NASDAQ:ADSK) had its price objective trimmed by Wells Fargo & Company from $350.00 to $345.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

ADSK has been the topic of several other reports. Bank of America upped their price objective on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Citigroup dropped their target price on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Morgan Stanley cut their target price on shares of Autodesk from $385.00 to $330.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Finally, Mizuho reduced their price objective on Autodesk from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.36.

Autodesk Stock Up 2.7 %

Shares of NASDAQ:ADSK opened at $261.14 on Tuesday. The business has a 50-day moving average price of $266.34 and a 200 day moving average price of $286.75. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $55.62 billion, a price-to-earnings ratio of 51.81, a PEG ratio of 2.94 and a beta of 1.49.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was purchased 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 in the company, valued at approximately $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Autodesk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after acquiring an additional 119,034 shares during the period. Geode Capital Management LLC increased its stake in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after purchasing an additional 45,623 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after purchasing an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after purchasing an additional 2,307,960 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Autodesk by 20.6% in the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company’s stock valued at $727,933,000 after purchasing an additional 420,838 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other 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.