Autodesk (NASDAQ:ADSK) Raised to Strong-Buy at Wall Street Zen

Autodesk (NASDAQ:ADSK) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

ADSK has been the subject of a number of other research reports. Oppenheimer increased their target price on shares of Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Rosenblatt Securities raised their price objective on shares of Autodesk from $345.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Berenberg Bank set a $370.00 target price on shares of Autodesk in a research note on Monday, September 1st. Morgan Stanley increased their price target on Autodesk from $370.00 to $385.00 and gave the stock an “overweight” rating in a research report on Sunday, August 31st. Finally, Stifel Nicolaus lifted their price objective on Autodesk from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $356.83.

Autodesk Price Performance

Shares of Autodesk stock opened at $322.67 on Friday. The firm has a market cap of $68.73 billion, a P/E ratio of 66.81, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The firm’s 50-day simple moving average is $302.39 and its 200-day simple moving average is $288.20. Autodesk has a twelve month low of $232.67 and a twelve month high of $329.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76.

Insider Buying and Selling

In other news, EVP Rebecca Pearce sold 6,129 shares of the 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 completion of the sale, the executive vice president directly owned 13,311 shares in the company, valued at $4,300,251.66. This represents a 31.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven M. Blum sold 22,420 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the sale, the executive vice president directly owned 13,099 shares of the company’s stock, valued at $4,240,801.25. This represents a 63.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,374 shares of company stock valued at $13,899,261. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADSK. SouthState Corp boosted its position in Autodesk by 500.0% in the first 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. Costello Asset Management INC purchased a new stake in shares of Autodesk during the 1st quarter worth approximately $26,000. Close Asset Management Ltd bought a new stake in shares of Autodesk in the 1st quarter worth approximately $27,000. Cheviot Value Management LLC purchased a new position in Autodesk in the first quarter valued at approximately $27,000. Finally, Flaharty Asset Management LLC purchased a new stake in Autodesk in the 1st quarter worth about $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.