Autodesk, Inc. (NASDAQ:ADSK) Receives $324.64 Consensus PT from Analysts

Autodesk, Inc. (NASDAQ:ADSK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-three brokerages that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $321.59.

ADSK has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price 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. Robert W. Baird lowered their target price on Autodesk from $345.00 to $336.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus cut their price target on Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Mizuho lowered their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, DA Davidson reduced their target price on shares of Autodesk from $285.00 to $265.00 and set a "neutral" rating for the company in a report on Monday.

Autodesk Stock Performance

Shares of NASDAQ ADSK traded down $0.69 during trading on Wednesday, reaching $259.47. 1,053,424 shares of the company traded hands, compared to its average volume of 1,669,193. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a 50 day simple moving average of $268.85 and a 200-day simple moving average of $286.85. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market capitalization of $55.27 billion, a PE ratio of 51.48, a P/E/G ratio of 2.94 and a beta of 1.49.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Autodesk

Several large investors have recently made changes to their positions in ADSK. Massachusetts Financial Services Co. MA lifted its position in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company's stock valued at $849,858,000 after buying an additional 2,307,960 shares in the last quarter. Norges Bank acquired a new position in shares of Autodesk during the 4th quarter worth about $632,566,000. Farallon Capital Management LLC acquired a new stake in Autodesk in the 4th quarter worth about $544,381,000. GAMMA Investing LLC increased its stake in Autodesk by 27,505.2% during the 1st quarter. GAMMA Investing LLC now owns 1,470,531 shares of the software company's stock worth $384,985,000 after buying an additional 1,465,204 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company's stock valued at $652,127,000 after acquiring an additional 670,699 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.