Autodesk (NASDAQ:ADSK) Given New $350.00 Price Target at Stifel Nicolaus

Autodesk (NASDAQ:ADSK - Free Report) had its price objective lowered by Stifel Nicolaus from $360.00 to $350.00 in a research report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company's stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a "buy" rating and a $350.00 target price on the stock. Hsbc Global Res downgraded Autodesk from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. Oppenheimer boosted their price objective on Autodesk from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Bank of America lifted their price objective on shares of Autodesk from $325.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, HSBC lowered shares of Autodesk from a "buy" rating to a "hold" rating and set a $290.00 target price on the stock. in a research report on Friday, November 29th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $338.43.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $4.60 during mid-day trading on Friday, hitting $267.43. 2,430,623 shares of the company's stock traded hands, compared to its average volume of 1,577,698. The company has a market capitalization of $57.50 billion, a P/E ratio of 53.06, a PEG ratio of 2.94 and a beta of 1.43. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company's 50-day moving average is $296.12 and its two-hundred day moving average is $287.57.

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently modified their holdings of ADSK. Jag Capital Management LLC purchased a new position in Autodesk in the 3rd quarter worth $13,861,000. LMR Partners LLP acquired a new stake in shares of Autodesk during the third quarter worth about $12,643,000. Starboard Value LP acquired a new position in Autodesk in the 3rd quarter worth approximately $510,189,000. China Universal Asset Management Co. Ltd. increased its holdings in Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company's stock worth $2,394,000 after buying an additional 5,365 shares during the period. Finally, Brookstone Capital Management lifted its stake in Autodesk by 1,058.9% during the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company's stock valued at $8,659,000 after acquiring an additional 26,768 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Company Profile

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.