Autodesk (NASDAQ:ADSK) Shares Gap Up – Time to Buy?

Shares of Autodesk, Inc. (NASDAQ:ADSK) gapped up before the market opened on Monday . The stock had previously closed at $280.39, but opened at $298.37. Autodesk shares last traded at $292.38, with a volume of 930,153 shares trading hands.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of analyst reports. Berenberg Bank upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $325.00 to $365.00 in a research note on Friday, June 27th. KeyCorp reissued an “overweight” rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research report on Friday, May 23rd. Robert W. Baird lifted their price target on shares of Autodesk from $303.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. The Goldman Sachs Group lifted their price target on shares of Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Finally, Mizuho lowered their target price on shares of Autodesk from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $343.64.

Autodesk Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $61.84 billion, a P/E ratio of 61.88, a P/E/G ratio of 2.83 and a beta of 1.44. The business’s fifty day simple moving average is $298.52 and its 200-day simple moving average is $285.60.

Insider Transactions at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 3,251 shares of Autodesk stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the sale, the executive vice president directly owned 19,440 shares in the company, valued at approximately $6,123,600. The trade was a 14.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 9,391 shares of company stock valued at $2,909,885. Insiders own 0.15% of the company’s stock.

Institutional Trading of Autodesk

A number of large investors have recently made changes to their positions in ADSK. Brighton Jones LLC increased its holdings in shares of Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after buying an additional 147 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Autodesk in the 4th quarter worth about $202,000. EverSource Wealth Advisors LLC increased its holdings in shares of Autodesk by 9.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 503 shares of the software company’s stock worth $149,000 after buying an additional 42 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Autodesk by 10.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,183 shares of the software company’s stock worth $350,000 after buying an additional 112 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Autodesk by 6.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,020 shares of the software company’s stock worth $1,484,000 after buying an additional 312 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

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.