Autodesk (NASDAQ:ADSK) Given New $275.00 Price Target at Oppenheimer

Autodesk (NASDAQ:ADSK) had its price target decreased by equities researchers at Oppenheimer from $315.00 to $275.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the software company’s stock. Oppenheimer’s target price would indicate a potential upside of 27.97% from the company’s previous close.

ADSK has been the topic of several other reports. StockNews.com downgraded Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group raised their price objective on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Stifel Nicolaus reissued a “buy” rating and issued a $316.00 price target on shares of Autodesk in a research note on Friday, April 12th. Rosenblatt Securities increased their price objective on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Piper Sandler boosted their price target on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $270.17.

Autodesk Stock Performance

NASDAQ ADSK opened at $214.89 on Thursday. The business has a 50 day simple moving average of $231.60 and a two-hundred day simple moving average of $237.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. Autodesk has a 1-year low of $192.01 and a 1-year high of $279.53. The stock has a market capitalization of $46.30 billion, a PE ratio of 51.04, a P/E/G ratio of 3.02 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts predict that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the transaction, the director now directly owns 33,766 shares in the company, valued at $9,285,650. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mary T. Mcdowell sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the transaction, the director now directly owns 33,766 shares of the company’s stock, valued at $9,285,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the sale, the executive vice president now owns 13,620 shares in the company, valued at $3,425,974.80. The disclosure for this sale can be found here. Insiders have sold 35,616 shares of company stock worth $9,319,448 over the last three months. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of institutional investors and hedge funds have recently bought and sold shares of ADSK. WealthPlan Investment Management LLC boosted its holdings in Autodesk by 214.0% in the third quarter. WealthPlan Investment Management LLC now owns 6,232 shares of the software company’s stock valued at $1,290,000 after acquiring an additional 4,247 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of Autodesk by 25.6% during the third quarter. MGO One Seven LLC now owns 2,367 shares of the software company’s stock worth $490,000 after purchasing an additional 482 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Autodesk by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 65,437 shares of the software company’s stock worth $13,540,000 after purchasing an additional 548 shares during the last quarter. Corient Private Wealth LLC boosted its position in Autodesk by 1.7% during the 3rd quarter. Corient Private Wealth LLC now owns 90,594 shares of the software company’s stock valued at $18,747,000 after purchasing an additional 1,494 shares during the period. Finally, Signaturefd LLC lifted its position in Autodesk by 10.3% in the 3rd quarter. Signaturefd LLC now owns 2,224 shares of the software company’s stock valued at $460,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other 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.