Autodesk (NASDAQ:ADSK) Receives “Overweight” Rating from KeyCorp

Autodesk (NASDAQ:ADSK)‘s stock had its “overweight” rating restated by stock analysts at KeyCorp in a note issued to investors on Friday, Marketbeat reports. They presently have a $350.00 price objective on the software company’s stock, up from their previous price objective of $323.00. KeyCorp’s price objective indicates a potential upside of 18.50% from the stock’s previous close.

Several other analysts also recently issued reports on ADSK. Bank of America boosted their price objective on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and set a $340.00 price objective on shares of Autodesk in a report on Tuesday, May 20th. Morgan Stanley upped their target price on Autodesk from $330.00 to $370.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus dropped their target price on Autodesk from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Scotiabank dropped their target price on Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $337.18.

Autodesk Price Performance

NASDAQ ADSK opened at $295.35 on Friday. The stock’s 50-day moving average price is $271.64 and its two-hundred day moving average price is $286.45. 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 company has a market cap of $63.19 billion, a PE ratio of 58.60, 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.

Insider Buying and Selling

In related news, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was purchased 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 directly owns 2,000 shares of the company’s stock, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, 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. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its position in Autodesk by 196.2% during the fourth 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. Union Bancaire Privee UBP SA bought a new stake in Autodesk during the fourth quarter worth approximately $13,906,000. Robeco Institutional Asset Management B.V. boosted its position in Autodesk by 25.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 300,135 shares of the software company’s stock worth $88,711,000 after purchasing an additional 60,963 shares during the period. GAM Holding AG bought a new stake in Autodesk during the fourth quarter worth approximately $3,453,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Autodesk by 8.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,398 shares of the software company’s stock worth $38,205,000 after purchasing an additional 9,877 shares during the period. Institutional investors own 90.24% of the company’s stock.

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.