Mizuho Cuts Autodesk (NASDAQ:ADSK) Price Target to $350.00

Autodesk (NASDAQ:ADSK) had its price objective dropped by research analysts at Mizuho from $400.00 to $350.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the software company’s stock. Mizuho’s price target suggests a potential upside of 34.25% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. DA Davidson lowered their target price on Autodesk from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday. Bank of America boosted their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Scotiabank lowered their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Citigroup reduced their price objective on Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research note on Tuesday, February 25th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $324.64.

Autodesk Stock Performance

ADSK stock opened at $260.71 on Tuesday. The business has a 50 day moving average of $271.43 and a 200-day moving average of $287.30. The firm has a market cap of $55.53 billion, a PE ratio of 51.73, a P/E/G ratio of 2.94 and a beta of 1.49. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Activity

In related news, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Autodesk in the 4th quarter worth approximately $25,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the fourth quarter worth approximately $29,000. Tradewinds Capital Management LLC lifted its holdings 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 worth $30,000 after acquiring an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Autodesk in the 4th quarter valued at $30,000. Finally, Addison Advisors LLC grew its holdings in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after purchasing an additional 74 shares during the last quarter. 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.