Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Bank of America Analyst Says

Autodesk (NASDAQ:ADSK) had its target price hoisted by analysts at Bank of America from $330.00 to $360.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the software company’s stock. Bank of America‘s target price indicates a potential upside of 14.39% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. DA Davidson raised shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, July 22nd. Macquarie lifted their target price on shares of Autodesk from $360.00 to $380.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird lifted their target price on shares of Autodesk from $345.00 to $363.00 and gave the company an “outperform” rating in a report on Friday. UBS Group lifted their target price on shares of Autodesk from $370.00 to $385.00 and gave the company a “buy” rating in a report on Friday. Finally, Oppenheimer lifted their target price on shares of Autodesk from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Friday. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $355.22.

Autodesk Stock Performance

ADSK opened at $314.70 on Friday. Autodesk has a 12-month low of $232.67 and a 12-month high of $326.62. 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 $67.35 billion, a PE ratio of 65.16, a P/E/G ratio of 3.03 and a beta of 1.46. The firm has a 50 day moving average of $297.65 and a two-hundred day moving average of $284.71.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction on Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the sale, the executive vice president owned 13,311 shares of the company’s stock, valued at $4,300,251.66. The trade was a 31.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of Autodesk stock in a transaction on Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the sale, the director directly owned 4,393 shares in the company, valued at approximately $1,427,725. This trade represents a 41.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,679 shares of company stock valued at $5,916,595. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Access Investment Management LLC acquired a new stake in Autodesk during the 2nd quarter worth $28,000. Cheviot Value Management LLC acquired a new stake in Autodesk during the 1st quarter worth $27,000. SouthState Corp boosted its stake in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Autodesk during the 4th quarter worth $29,000. Finally, Livelsberger Financial Advisory acquired a new stake in Autodesk during the 2nd quarter worth $31,000. Institutional investors and hedge funds 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.