Autodesk (NASDAQ:ADSK) Now Covered by Loop Capital

Loop Capital initiated coverage on shares of Autodesk (NASDAQ:ADSK) in a research report released on Monday morning, MarketBeat reports. The firm issued a hold rating and a $320.00 target price on the software company’s stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price target (up previously from $300.00) on shares of Autodesk in a research report on Friday, May 23rd. Piper Sandler upped their price target on shares of Autodesk from $357.00 to $361.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. DA Davidson raised shares of Autodesk from a “neutral” rating to a “buy” rating and upped their price target for the stock from $305.00 to $375.00 in a research report on Monday, July 7th. Rosenblatt Securities reissued a “buy” rating and issued a $340.00 price objective on shares of Autodesk in a research report on Tuesday, May 20th. Finally, BMO Capital Markets increased 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. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $342.61.

Autodesk Price Performance

Shares of ADSK opened at $295.16 on Monday. Autodesk has a twelve month low of $223.03 and a twelve month high of $326.62. The firm’s fifty day simple moving average is $298.88 and its 200-day simple moving average is $285.48. The firm has a market capitalization of $63.16 billion, a price-to-earnings ratio of 63.20, a PEG ratio of 2.86 and a beta of 1.44. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In other news, EVP Rebecca Pearce sold 3,251 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $315.00, for a total value of $1,024,065.00. Following the completion of the transaction, the executive vice president directly owned 19,440 shares of the company’s stock, valued at approximately $6,123,600. The trade was a 14.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 9,391 shares of company stock worth $2,909,885. Insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

Large investors have recently added to or reduced their stakes in the company. Cheviot Value Management LLC acquired a new position in Autodesk in the 1st quarter valued at $27,000. SouthState Corp boosted its position in shares of Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after buying an additional 80 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Autodesk during the fourth quarter worth $29,000. Livelsberger Financial Advisory purchased a new position in Autodesk in the second quarter valued at $31,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Autodesk in the fourth quarter valued at $30,000. Hedge funds and other 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.