Piper Sandler Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Piper Sandler from $357.00 to $361.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Several other brokerages have also commented on ADSK. Rosenblatt Securities reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $345.00 price objective (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. BMO Capital Markets lifted their price objective on shares of Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research report on Friday, May 23rd. Barclays lifted their price objective on shares of Autodesk from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Finally, Robert W. Baird lifted their price objective on shares of Autodesk from $303.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $337.45.

Autodesk Stock Up 1.7%

Autodesk stock opened at $300.36 on Tuesday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The stock has a market cap of $64.26 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The firm’s 50-day simple moving average is $272.84 and its 200 day simple moving average is $286.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insider Activity

In other news, Director John T. Cahill bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $267.10 per share, with a total value of $534,200.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $534,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently bought and sold shares of ADSK. Brighton Jones LLC grew its stake in Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after buying an additional 147 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Autodesk by 39.1% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,133 shares of the software company’s stock worth $630,000 after buying an additional 600 shares in the last quarter. PFG Investments LLC grew its stake in Autodesk by 12.1% in the 4th quarter. PFG Investments LLC now owns 2,158 shares of the software company’s stock worth $638,000 after buying an additional 233 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in Autodesk by 32.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 4,400 shares of the software company’s stock worth $1,301,000 after buying an additional 1,078 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Autodesk by 31.8% in the 4th quarter. Blue Trust Inc. now owns 3,207 shares of the software company’s stock worth $883,000 after buying an additional 773 shares in the last quarter. 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.