Autodesk, Inc. (NASDAQ:ADSK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $337.45.

ADSK has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $345.00 price target (up previously from $313.03) on shares of Autodesk in a research report on Friday, May 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $360.00 price target (up previously from $345.00) on shares of Autodesk in a research report on Friday, May 23rd. Barclays upped their price target on Autodesk from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. The Goldman Sachs Group upped their target price on Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th.

Autodesk Stock Down 0.2%

ADSK opened at $297.21 on Thursday. 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 company has a market cap of $63.60 billion, a P/E ratio of 58.97, a P/E/G ratio of 2.94 and a beta of 1.45. Autodesk has a 12 month low of $205.86 and a 12 month high of $326.62. The business’s 50-day moving average price is $278.27 and its 200-day moving average price is $285.57.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $534,200. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Several hedge funds and other institutional investors have recently modified their holdings of ADSK. Brighton Jones LLC lifted its holdings in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock valued at $343,000 after buying an additional 147 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Autodesk during the 4th quarter valued at $13,906,000. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Autodesk by 5.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 1,157 shares of the software company’s stock valued at $342,000 after buying an additional 63 shares during the period. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Autodesk by 110.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 2,063 shares of the software company’s stock valued at $610,000 after buying an additional 1,082 shares during the period. Finally, Trust Point Inc. lifted its holdings in shares of Autodesk by 6.4% during the 4th quarter. Trust Point Inc. now owns 1,935 shares of the software company’s stock valued at $572,000 after buying an additional 116 shares during the period. 90.24% of the stock is owned by institutional investors.

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.