Piper Sandler Raises Autodesk (NASDAQ:ADSK) Price Target to $373.00

Autodesk (NASDAQ:ADSK) had its target price raised by equities researchers at Piper Sandler from $361.00 to $373.00 in a note issued to investors on Friday, Marketbeat reports. The brokerage currently has an “overweight” rating on the software company’s stock. Piper Sandler’s price target indicates a potential upside of 18.53% from the company’s current price.

Several other research firms also recently issued reports on ADSK. Oppenheimer lifted their price objective on Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday. Macquarie restated an “outperform” rating and set a $360.00 price objective on shares of Autodesk in a report on Friday, July 11th. The Goldman Sachs Group lifted their price objective on Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. BMO Capital Markets lifted their target price on Autodesk from $324.00 to $333.00 and gave the stock a “market perform” rating in a research report on Friday, May 23rd. Finally, DA Davidson upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, July 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $355.22.

Autodesk Price Performance

ADSK stock opened at $314.70 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 52-week low of $232.67 and a 52-week high of $326.62. The stock’s 50 day moving average is $297.65 and its two-hundred day moving average is $284.71. The company 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.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 6,129 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the completion of the transaction, the executive vice president owned 13,311 shares in the company, valued at $4,300,251.66. The trade was a 31.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ayanna Howard sold 3,159 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $325.00, for a total value of $1,026,675.00. Following the transaction, the director owned 4,393 shares of the company’s stock, valued at $1,427,725. This represents a 41.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,679 shares of company stock valued at $5,916,595 in the last 90 days. Insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds have recently added to or reduced their stakes in the business. SouthState Corp raised its stake in Autodesk by 500.0% during the 1st quarter. SouthState Corp now owns 96 shares of the software company’s stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Costello Asset Management INC bought a new stake in Autodesk during the 1st quarter valued at $26,000. Close Asset Management Ltd bought a new stake in Autodesk during the 1st quarter valued at $27,000. Cheviot Value Management LLC bought a new stake in Autodesk during the 1st quarter valued at $27,000. Finally, Flaharty Asset Management LLC bought a new stake in Autodesk during the 1st quarter valued at $27,000. Institutional investors 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.