Citigroup Increases Autodesk (NASDAQ:ADSK) Price Target to $325.00

Autodesk (NASDAQ:ADSK - Get Free Report) had its price target boosted by research analysts at Citigroup from $316.00 to $325.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the software company's stock. Citigroup's price target points to a potential upside of 26.05% from the stock's current price.

A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus upped their price objective on Autodesk from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Friday. Barclays increased their price target on Autodesk from $275.00 to $310.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Autodesk from $305.00 to $320.00 and gave the stock an "overweight" rating in a research note on Friday. Oppenheimer increased their target price on shares of Autodesk from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday. Finally, KeyCorp reaffirmed an "overweight" rating and set a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Autodesk has an average rating of "Moderate Buy" and a consensus price target of $292.17.

Autodesk Price Performance

Shares of ADSK stock traded down $0.57 during mid-day trading on Tuesday, hitting $257.83. The company had a trading volume of 2,026,521 shares, compared to its average volume of 1,659,734. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The stock's 50 day moving average price is $246.66 and its 200-day moving average price is $239.07. Autodesk has a 52-week low of $192.01 and a 52-week high of $279.53. The company has a market capitalization of $55.56 billion, a P/E ratio of 55.81, a P/E/G ratio of 3.45 and a beta of 1.48.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The firm's revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that Autodesk will post 5.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Steven M. Blum sold 17,344 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Steven M. Blum sold 17,344 shares of the company'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 directly owns 17,099 shares of the company's stock, valued at approximately $4,616,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the firm's stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares of the company's stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold a total of 57,275 shares of company stock worth $14,220,661 over the last 90 days. Company insiders own 0.14% of the company's stock.

Institutional Trading of Autodesk

Several large investors have recently added to or reduced their stakes in ADSK. 3Chopt Investment Partners LLC acquired a new position in Autodesk in the 2nd quarter worth about $874,000. Advisory Alpha LLC increased its position in shares of Autodesk by 23.7% in the second quarter. Advisory Alpha LLC now owns 1,911 shares of the software company's stock valued at $473,000 after buying an additional 366 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Autodesk by 202.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,353 shares of the software company's stock worth $582,000 after buying an additional 1,576 shares during the period. NewEdge Advisors LLC lifted its position in shares of Autodesk by 4.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,023 shares of the software company's stock valued at $3,470,000 after buying an additional 590 shares in the last quarter. Finally, Creative Planning grew its stake in Autodesk by 5.3% in the 2nd quarter. Creative Planning now owns 37,659 shares of the software company's stock valued at $9,319,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other 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.