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

Autodesk (NASDAQ:ADSK) had its price objective reduced by Oppenheimer from $350.00 to $300.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the software company’s stock.

ADSK has been the subject of several other research reports. Barclays upped their price target on shares of Autodesk from $355.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Citigroup dropped their price target on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 target price on shares of Autodesk in a report on Tuesday, February 25th. Finally, Morgan Stanley boosted their price target on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $333.90.

Autodesk Stock Performance

ADSK stock opened at $238.84 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a market cap of $50.87 billion, a P/E ratio of 47.39, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The stock’s fifty day moving average price is $276.28 and its 200-day moving average price is $287.64.

Insider Activity at Autodesk

In related news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. This represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. China Universal Asset Management Co. Ltd. boosted its stake in shares of Autodesk by 196.2% during 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 purchasing an additional 5,365 shares during the period. Brookstone Capital Management lifted its stake in Autodesk by 1,058.9% in the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after purchasing an additional 26,768 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Autodesk in the fourth quarter worth approximately $13,906,000. Robeco Institutional Asset Management B.V. grew its position in Autodesk by 25.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company’s stock valued at $88,711,000 after acquiring an additional 60,963 shares during the last quarter. Finally, GAM Holding AG purchased a new stake in Autodesk in the fourth quarter worth $3,453,000. 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.