Autodesk (NASDAQ:ADSK) Price Target Raised to $375.00 at Morgan Stanley

Autodesk (NASDAQ:ADSK) had its price target increased by Morgan Stanley from $320.00 to $375.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

Several other research firms have also recently weighed in on ADSK. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America upped their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. KeyCorp raised their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays upped their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, DA Davidson initiated coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Stock Up 1.9 %

Autodesk stock opened at $321.27 on Friday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $321.90. 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 $69.07 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 3.90 and a beta of 1.47. The company’s 50 day simple moving average is $286.44 and its 200 day simple moving average is $254.61.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. As a group, sell-side analysts anticipate that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk during the 1st quarter worth $25,000. LRI Investments LLC bought a new position in Autodesk in the 1st quarter valued at approximately $26,000. Olistico Wealth LLC bought a new stake in Autodesk during the 2nd quarter worth approximately $26,000. Pacifica Partners Inc. increased its position in Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares during the period. Finally, Livelsberger Financial Advisory acquired a new stake in Autodesk in the third quarter valued at $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.