Autodesk (NASDAQ:ADSK - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $300.00 to $280.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software company's stock.
ADSK has been the subject of several other research reports. Barclays lifted their price target on Autodesk from $355.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Mizuho raised shares of Autodesk from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $280.00 to $400.00 in a research report on Tuesday, January 28th. DA Davidson lifted their target price on shares of Autodesk from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Citigroup decreased their target price on shares of Autodesk from $361.00 to $339.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Macquarie reissued an "outperform" rating and issued a $360.00 target price on shares of Autodesk in a research report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $327.82.
Check Out Our Latest Research Report on Autodesk
Autodesk Price Performance
NASDAQ ADSK traded up $0.22 on Wednesday, hitting $258.67. The stock had a trading volume of 388,780 shares, compared to its average volume of 1,691,359. The firm has a 50-day moving average of $272.44 and a 200-day moving average of $287.38. The company has a market capitalization of $55.10 billion, a price-to-earnings ratio of 51.32, 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 52-week low of $195.32 and a 52-week high of $326.62.
Insiders Place Their Bets
In other news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction that occurred on Friday, March 21st. The shares were purchased 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 in the company, valued at $534,200. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares of the company's stock, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.
Institutional Trading of Autodesk
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in Autodesk during the 4th quarter worth $25,000. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk during the fourth quarter worth about $29,000. Tradewinds Capital Management LLC boosted its position in shares of Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company's stock valued at $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Autodesk during the fourth quarter worth approximately $30,000. Finally, Addison Advisors LLC increased its position in 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 buying an additional 74 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.
Autodesk Company Profile
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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.
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