Morgan Stanley Lowers Autodesk (NASDAQ:ADSK) Price Target to $330.00

Autodesk (NASDAQ:ADSK - Free Report) had its price target trimmed by Morgan Stanley from $385.00 to $330.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the software company's stock.

ADSK has been the topic of several other research reports. Scotiabank dropped their price objective on Autodesk from $360.00 to $315.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. UBS Group increased their price target on shares of Autodesk from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday, February 28th. KeyCorp reduced their price objective on Autodesk from $335.00 to $323.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Bank of America increased their target price on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Citigroup dropped their price target on Autodesk from $361.00 to $339.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $321.59.

Autodesk Stock Down 2.0 %

ADSK traded down $5.20 during trading on Wednesday, reaching $254.27. 1,266,208 shares of the stock were exchanged, compared to its average volume of 1,649,912. 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 stock's 50 day moving average price is $268.04 and its two-hundred day moving average price is $287.04. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The stock has a market cap of $54.16 billion, a P/E ratio of 50.45, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction that occurred 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 owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John T. Cahill purchased 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

A number of hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Autodesk during the 4th quarter worth approximately $25,000. Investment Management Corp VA ADV acquired a new stake in Autodesk in the fourth quarter valued at $29,000. Tradewinds Capital Management LLC lifted its holdings in Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock worth $30,000 after buying an additional 50 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Autodesk in the 4th quarter valued at about $30,000. Finally, Addison Advisors LLC raised its position in shares of Autodesk by 157.4% during the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company's stock worth $36,000 after acquiring an additional 74 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.