Autodesk (NASDAQ:ADSK) Price Target Raised to $299.00 at Berenberg Bank

Autodesk (NASDAQ:ADSK) had its price target upped by Berenberg Bank from $286.00 to $299.00 in a report released on Friday, Benzinga reports. The firm currently has a hold rating on the software company’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America increased their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a neutral rating in a research note on Friday. Barclays increased their target price on shares of Autodesk from $275.00 to $310.00 and gave the stock an overweight rating in a research note on Friday. BMO Capital Markets increased their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a market perform rating in a research note on Friday. Citigroup increased their target price on shares of Autodesk from $295.00 to $316.00 and gave the stock a buy rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus increased their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a buy rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $283.33.

Autodesk Stock Performance

NASDAQ ADSK opened at $258.40 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a market capitalization of $55.69 billion, a PE ratio of 55.93, a P/E/G ratio of 3.23 and a beta of 1.48. The company has a fifty day moving average of $245.65 and a two-hundred day moving average of $239.40.

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

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The sale was disclosed in a filing with the SEC, which is available at this link. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction dated 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 of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The disclosure for this sale can be found here. Insiders sold 39,931 shares of company stock valued at $9,537,781 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after buying an additional 363,565 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. FIL Ltd increased its stake in shares of Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Autodesk by 12.9% during the 4th quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock worth $696,342,000 after purchasing an additional 327,144 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other 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.