Citigroup Reiterates Buy Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup in a report issued on Tuesday, Marketbeat.com reports. They presently have a $374.00 price objective on the software company’s stock, up from their prior price objective of $346.00. Citigroup’s price target points to a potential upside of 26.78% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company decreased their target price on Autodesk from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Bank of America boosted their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley decreased their target price on Autodesk from $385.00 to $330.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. UBS Group boosted their target price on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, KeyCorp reduced their price target on Autodesk from $335.00 to $323.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $323.59.

Autodesk Stock Up 0.7%

ADSK stock opened at $295.00 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $63.11 billion, a PE ratio of 58.53, a PEG ratio of 2.94 and a beta of 1.47. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The business’s 50 day simple moving average is $270.94 and its 200 day simple moving average is $286.66.

Insider Activity

In other news, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill bought 2,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $267.10 per share, with a total value of $534,200.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $534,200. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently modified their holdings of ADSK. Merit Financial Group LLC lifted its position in shares of Autodesk by 84.2% during the 4th quarter. Merit Financial Group LLC now owns 1,728 shares of the software company’s stock worth $511,000 after buying an additional 790 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Autodesk by 7.2% during the 4th quarter. Arkadios Wealth Advisors now owns 2,591 shares of the software company’s stock worth $766,000 after buying an additional 175 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Autodesk during the 4th quarter worth $210,000. Aaron Wealth Advisors LLC lifted its position in shares of Autodesk by 5.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,187 shares of the software company’s stock worth $351,000 after buying an additional 59 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after buying an additional 37 shares during the last quarter. 90.24% of the stock is currently owned by 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.