Autodesk (NASDAQ:ADSK) Price Target Cut to $323.00 by Analysts at KeyCorp

Autodesk (NASDAQ:ADSK - Free Report) had its target price lowered by KeyCorp from $335.00 to $323.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the software company's stock.

Other analysts also recently issued reports about the company. Stifel Nicolaus dropped their price objective on Autodesk from $350.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Mizuho lowered their price objective on shares of Autodesk from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. UBS Group boosted their target price on shares of Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Citigroup reduced their price objective on Autodesk from $361.00 to $339.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Scotiabank lowered their target price on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $321.59.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $7.06 during trading hours on Wednesday, hitting $252.41. 356,880 shares of the stock were exchanged, compared to its average volume of 1,646,567. The company's fifty day simple moving average is $268.04 and its two-hundred day simple moving average is $287.04. The company has a market cap of $53.76 billion, a PE ratio of 50.08, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Insider Transactions at Autodesk

In related news, Director John T. Cahill acquired 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now owns 2,000 shares of the company's stock, valued at approximately $534,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company's stock in a transaction 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 sale, the chief accounting officer now owns 3,003 shares of the company's stock, valued at $802,671.87. This trade represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Several institutional investors have recently added to or reduced their stakes in ADSK. Institute for Wealth Management LLC. grew its holdings in shares of Autodesk by 135.4% during the first quarter. Institute for Wealth Management LLC. now owns 1,829 shares of the software company's stock worth $479,000 after purchasing an additional 1,052 shares in the last quarter. Bigelow Investment Advisors LLC lifted its position in Autodesk by 7.5% in the first quarter. Bigelow Investment Advisors LLC now owns 1,542 shares of the software company's stock valued at $404,000 after purchasing an additional 107 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Autodesk by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 25,193 shares of the software company's stock worth $6,595,000 after purchasing an additional 670 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Autodesk by 1.9% in the first quarter. QRG Capital Management Inc. now owns 15,074 shares of the software company's stock worth $3,946,000 after buying an additional 284 shares during the period. Finally, Sagespring Wealth Partners LLC grew its holdings in Autodesk by 33.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 2,304 shares of the software company's stock worth $603,000 after acquiring an additional 581 shares during the last quarter. 90.24% of the stock is 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.