Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Autodesk (NASDAQ:ADSK - Get Free Report) had its target price upped by analysts at Robert W. Baird from $305.00 to $330.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the software company's stock. Robert W. Baird's price objective would indicate a potential upside of 9.25% from the company's current price.

Other research analysts have also recently issued reports about the stock. Berenberg Bank increased their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a "hold" rating in a report on Friday, August 30th. Bank of America upped their price objective on Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, August 30th. The Goldman Sachs Group upgraded Autodesk from a "sell" rating to a "neutral" rating and lifted their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Mizuho set a $260.00 price target on shares of Autodesk in a report on Friday, October 18th. Finally, Rosenblatt Securities boosted their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and a consensus price target of $298.25.

Autodesk Stock Performance

NASDAQ ADSK traded up $2.90 during trading hours on Monday, hitting $302.05. 909,075 shares of the company's stock traded hands, compared to its average volume of 1,576,468. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 52 week low of $195.32 and a 52 week high of $315.73. The firm has a market capitalization of $64.94 billion, a P/E ratio of 61.18, a P/E/G ratio of 3.82 and a beta of 1.47. The business's fifty day moving average price is $281.32 and its two-hundred day moving average price is $251.79.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $1.12 EPS. The firm's revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Autodesk will post 5.73 EPS for the current year.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now owns 31,349 shares of the company's stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company's stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 in the last 90 days. Company insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Marshall Financial Group LLC grew its stake in Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company's stock valued at $1,237,000 after buying an additional 35 shares during the last quarter. Avitas Wealth Management LLC grew its position in shares of Autodesk by 0.8% in the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company's stock valued at $1,536,000 after purchasing an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company's stock worth $959,000 after purchasing an additional 44 shares during the period. Meeder Asset Management Inc. boosted its stake in Autodesk by 28.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company's stock valued at $54,000 after purchasing an additional 44 shares during the period. Finally, Johnson Investment Counsel Inc. grew its holdings in Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company's stock valued at $228,000 after buying an additional 45 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.