Autodesk, Inc. (NASDAQ:ADSK) Receives $342.61 Average PT from Brokerages

Shares of Autodesk, Inc. (NASDAQ:ADSK) have been assigned a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $342.61.

Several brokerages have recently issued reports on ADSK. Bank of America boosted their price target on shares of Autodesk from $290.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. KeyCorp reissued an “overweight” rating and set a $350.00 price target (up previously from $323.00) on shares of Autodesk in a report on Friday, May 23rd. Piper Sandler boosted their price target on Autodesk from $357.00 to $361.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Stifel Nicolaus raised their price target on Autodesk from $310.00 to $350.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, BMO Capital Markets raised their price target on Autodesk from $324.00 to $333.00 and gave the company a “market perform” rating in a report on Friday, May 23rd.

Autodesk Stock Performance

Shares of ADSK opened at $306.61 on Friday. Autodesk has a 1 year low of $223.03 and a 1 year high of $326.62. The company has a market cap of $65.61 billion, a price-to-earnings ratio of 65.66, a price-to-earnings-growth ratio of 2.93 and a beta of 1.44. 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 fifty day moving average of $299.68 and a 200-day moving average of $285.97.

Insider Buying and Selling at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president owned 19,440 shares in the company, valued at $6,123,600. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 9,391 shares of company stock valued at $2,909,885. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beacon Financial Group boosted its position in shares of Autodesk by 3.0% in the 2nd quarter. Beacon Financial Group now owns 1,130 shares of the software company’s stock valued at $350,000 after purchasing an additional 33 shares during the period. Freedom Investment Management Inc. boosted its position in shares of Autodesk by 2.4% in the 1st quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company’s stock valued at $386,000 after purchasing an additional 34 shares during the period. Financial Network Wealth Advisors LLC boosted its position in shares of Autodesk by 34.9% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 143 shares of the software company’s stock valued at $37,000 after purchasing an additional 37 shares during the period. Oregon Pacific Wealth Management LLC lifted its stake in Autodesk by 4.0% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 999 shares of the software company’s stock worth $262,000 after acquiring an additional 38 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Autodesk by 67.8% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 99 shares of the software company’s stock worth $31,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds 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.