Autodesk (NASDAQ:ADSK) Price Target Increased to $300.00 by Analysts at Oppenheimer

Autodesk (NASDAQ:ADSK) had its price objective increased by Oppenheimer from $275.00 to $300.00 in a research report sent to investors on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the software company’s stock.

Several other brokerages have also weighed in on ADSK. Rosenblatt Securities reissued a buy rating and set a $290.00 price objective on shares of Autodesk in a report on Wednesday, June 12th. Barclays decreased their price objective on shares of Autodesk from $310.00 to $275.00 and set an overweight rating for the company in a report on Wednesday, June 12th. Robert W. Baird decreased their price objective on shares of Autodesk from $296.00 to $289.00 and set an outperform rating for the company in a report on Wednesday, May 29th. Piper Sandler raised their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a neutral rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $260.00 price target on shares of Autodesk in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Autodesk presently has an average rating of Moderate Buy and a consensus price target of $283.33.

Autodesk Price Performance

ADSK opened at $258.40 on Friday. The company has a fifty day simple moving average of $245.65 and a 200 day simple moving average of $239.40. The firm has a market cap of $55.69 billion, a price-to-earnings ratio of 55.93, a PEG ratio of 3.23 and a beta of 1.48. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. Equities research analysts expect that Autodesk will post 5.55 EPS for the current fiscal year.

Insider Transactions at Autodesk

In related news, 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 transaction of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of 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. In the last three months, insiders sold 39,931 shares of company stock valued at $9,537,781. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently modified their holdings of ADSK. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter valued at $25,000. Concord Wealth Partners purchased a new stake in shares of Autodesk during the first quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk during the first quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk during the first quarter valued at $26,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the second quarter valued at $26,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.