Autodesk (NASDAQ:ADSK) Given New $340.00 Price Target at Stifel Nicolaus

Autodesk (NASDAQ:ADSK - Free Report) had its target price boosted by Stifel Nicolaus from $320.00 to $340.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the software company's stock.

ADSK has been the topic of several other research reports. Mizuho set a $260.00 target price on shares of Autodesk in a report on Friday, October 18th. Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, August 30th. The Goldman Sachs Group raised shares of Autodesk from a "sell" rating to a "neutral" rating and raised their price target for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Wells Fargo & Company initiated coverage on shares of Autodesk in a report on Wednesday, October 16th. They issued an "overweight" rating and a $340.00 price target on the stock. Finally, Berenberg Bank raised their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a "hold" rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $296.20.

Autodesk Stock Performance

Shares of Autodesk stock traded down $7.50 on Friday, reaching $299.15. 2,300,081 shares of the company traded hands, compared to its average volume of 1,579,473. Autodesk has a 52 week low of $195.32 and a 52 week high of $315.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $64.32 billion, a PE ratio of 61.08, a PEG ratio of 4.00 and a beta of 1.47. The company has a 50 day moving average of $280.34 and a 200 day moving average of $250.66.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its 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. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $1.12 EPS. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that Autodesk will post 5.73 earnings per share for the current year.

Insiders Place Their Bets

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk 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 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. The trade was 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 this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company's stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. Insiders own 0.14% of the company's stock.

Institutional Trading of Autodesk

Large investors have recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new stake in Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in Autodesk during the first quarter valued at approximately $26,000. Olistico Wealth LLC bought a new stake in Autodesk during the second quarter valued at approximately $26,000. Pacifica Partners Inc. grew its position in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock valued at $27,000 after buying an additional 50 shares during the period. Finally, Livelsberger Financial Advisory bought a new stake in Autodesk during the third quarter valued at approximately $27,000. 90.24% of the stock is currently owned by institutional investors.

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.