Autodesk (NASDAQ:ADSK) Price Target Lowered to $345.00 at Wells Fargo & Company

Autodesk (NASDAQ:ADSK) had its price target reduced by Wells Fargo & Company from $350.00 to $345.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software company’s stock.

ADSK has been the topic of several other research reports. Robert W. Baird cut their target price on Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Barclays cut their price objective on shares of Autodesk from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. DA Davidson decreased their target price on shares of Autodesk from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Bank of America lifted their price target on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, KeyCorp reduced their price target on Autodesk from $335.00 to $323.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.36.

Autodesk Stock Up 2.7 %

Shares of NASDAQ ADSK opened at $261.14 on Tuesday. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The stock’s fifty day simple moving average is $266.34 and its two-hundred day simple moving average is $286.75. The stock has a market capitalization of $55.62 billion, a PE ratio of 51.81, a price-to-earnings-growth ratio of 2.94 and a beta of 1.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at Autodesk

In other news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the 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 of the company’s stock, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Autodesk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after acquiring an additional 119,034 shares during the last quarter. Geode Capital Management LLC lifted its stake in Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after purchasing an additional 45,623 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Autodesk by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after purchasing an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after purchasing an additional 2,307,960 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Autodesk by 20.6% in the fourth quarter. Northern Trust Corp now owns 2,462,810 shares of the software company’s stock valued at $727,933,000 after purchasing an additional 420,838 shares during the last quarter. Hedge funds and other 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.