Autodesk (NASDAQ:ADSK) Stock Price Up 2.8% After Analyst Upgrade

Autodesk, Inc. (NASDAQ:ADSK - Get Free Report)'s stock price shot up 2.8% on Tuesday after Citigroup raised their price target on the stock from $316.00 to $325.00. Citigroup currently has a buy rating on the stock. Autodesk traded as high as $267.80 and last traded at $265.64. 410,643 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,650,208 shares. The stock had previously closed at $258.40.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group upgraded Autodesk from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $225.00 to $295.00 in a research report on Tuesday. Rosenblatt Securities lifted their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a "buy" rating in a research note on Friday. BMO Capital Markets increased their price objective on shares of Autodesk from $254.00 to $287.00 and gave the stock a "market perform" rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Autodesk from $290.00 to $313.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Mizuho upped their target price on shares of Autodesk from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.17.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company's stock, valued at $7,916,693.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of the business's stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders have sold 39,931 shares of company stock valued at $9,537,781 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently added to or reduced their stakes in ADSK. Gilbert & Cook Inc. grew its stake in Autodesk by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company's stock valued at $481,000 after buying an additional 103 shares during the last quarter. Victory Capital Management Inc. increased its position in Autodesk by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 203,397 shares of the software company's stock worth $49,523,000 after buying an additional 4,556 shares during the period. Summit Global Investments acquired a new stake in shares of Autodesk during the fourth quarter worth $256,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Autodesk by 34.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,183 shares of the software company's stock valued at $1,019,000 after acquiring an additional 1,079 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Autodesk in the fourth quarter valued at about $302,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Trading Down 0.2 %

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 business's 50-day moving average is $246.36 and its 200 day moving average is $239.07. The firm has a market capitalization of $55.56 billion, a P/E ratio of 56.95, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48.

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

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.