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

Autodesk (NASDAQ:ADSK - Get Free Report) had its price objective decreased by Wells Fargo & Company from $350.00 to $345.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the software company's stock. Wells Fargo & Company's price target would suggest a potential upside of 35.68% from the stock's current price.

ADSK has been the subject of a number of other research reports. Piper Sandler upgraded Autodesk from a "neutral" rating to an "overweight" rating and increased their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. 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. UBS Group raised their price objective on shares of Autodesk from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Morgan Stanley reduced their target price on Autodesk from $385.00 to $330.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, DA Davidson reduced their price objective on Autodesk from $285.00 to $265.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $321.36.

Autodesk Stock Performance

NASDAQ ADSK opened at $254.27 on Tuesday. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The business's 50-day simple moving average is $267.18 and its 200-day simple moving average is $286.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $54.16 billion, a P/E ratio of 50.45, a P/E/G ratio of 2.94 and a beta of 1.49.

Insider Transactions at Autodesk

In related news, Director John T. Cahill acquired 2,000 shares of the business's stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company's stock, valued at approximately $802,671.87. The trade was a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Institutional Trading of Autodesk

Large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock worth $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Brookstone Capital Management grew its position in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company's stock valued at $8,659,000 after purchasing an additional 26,768 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Autodesk in the 4th quarter valued at approximately $13,906,000. Robeco Institutional Asset Management B.V. lifted its position in Autodesk by 25.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company's stock worth $88,711,000 after buying an additional 60,963 shares in the last quarter. Finally, GAM Holding AG acquired a new stake in shares of Autodesk during the 4th quarter valued at $3,453,000. 90.24% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.