Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Oppenheimer Analyst Says

Autodesk (NASDAQ:ADSK - Get Free Report) had its price target boosted by Oppenheimer from $300.00 to $350.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the software company's stock. Oppenheimer's price target would indicate a potential upside of 8.94% from the stock's previous close.

ADSK has been the subject of a number of other research reports. Citigroup set a $325.00 price objective on shares of Autodesk and gave the company a "buy" rating in a research note on Friday, October 18th. KeyCorp raised their price target on shares of Autodesk from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Wednesday. HSBC upgraded Autodesk from a "hold" rating to a "buy" rating and upped their price objective for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Bank of America boosted their price target on Autodesk from $260.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, August 30th. Finally, DA Davidson initiated coverage on Autodesk in a research note on Friday, September 27th. They set a "neutral" rating and a $260.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $309.43.

Autodesk Stock Performance

Shares of ADSK traded up $5.86 during trading hours on Friday, reaching $321.27. 1,905,591 shares of the company traded hands, compared to its average volume of 1,304,630. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The stock's fifty day moving average is $286.44 and its 200 day moving average is $254.61. Autodesk has a 1-year low of $195.32 and a 1-year high of $321.90. The stock has a market cap of $69.07 billion, a P/E ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47.

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

Insider Transactions at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm'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 transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction dated 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 $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,232,213 in the last quarter. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Financial Group LLC grew its stake in Autodesk by 0.8% in the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company's stock valued at $1,237,000 after acquiring an additional 35 shares during the period. Avitas Wealth Management LLC grew its position in shares of Autodesk by 0.8% in the 3rd 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 period. Mesirow Financial Investment Management Inc. increased its stake in Autodesk by 1.1% during the 2nd 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 in the last quarter. Meeder Asset Management Inc. raised its holdings in Autodesk by 28.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company's stock worth $54,000 after buying an additional 44 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its stake in Autodesk by 5.1% in the second 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 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.