Stifel Nicolaus Trims Autodesk (NASDAQ:ADSK) Target Price to $290.00

Autodesk (NASDAQ:ADSK) had its price objective decreased by equities research analysts at Stifel Nicolaus from $316.00 to $290.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price target points to a potential upside of 33.23% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Oppenheimer decreased their price target on Autodesk from $315.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday. Piper Sandler Companies increased their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Rosenblatt Securities increased their price target on Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of Autodesk in a report on Monday, April 1st. Finally, Berenberg Bank downgraded Autodesk from a “buy” rating to a “hold” rating and set a $295.00 target price for the company. in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $270.17.

Autodesk Stock Performance

Shares of ADSK traded down $2.29 during mid-day trading on Thursday, reaching $217.67. 217,531 shares of the company’s stock were exchanged, compared to its average volume of 1,442,307. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a market capitalization of $46.90 billion, a PE ratio of 51.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. The business’s fifty day simple moving average is $233.25 and its 200-day simple moving average is $237.08. Autodesk has a 52-week low of $192.01 and a 52-week high of $279.53.

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

Insider Activity

In other news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The disclosure for this sale can be found here. Insiders sold a total of 35,616 shares of company stock valued at $9,319,448 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

A number of institutional investors have recently modified their holdings of ADSK. WealthPlan Investment Management LLC grew its holdings in shares of Autodesk by 214.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 6,232 shares of the software company’s stock worth $1,290,000 after purchasing an additional 4,247 shares during the period. MGO One Seven LLC boosted its holdings in Autodesk by 25.6% in the 3rd quarter. MGO One Seven LLC now owns 2,367 shares of the software company’s stock worth $490,000 after acquiring an additional 482 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in 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 acquiring an additional 548 shares during the period. Corient Private Wealth LLC boosted its holdings in Autodesk by 1.7% in the 3rd quarter. Corient Private Wealth LLC now owns 90,594 shares of the software company’s stock worth $18,747,000 after acquiring an additional 1,494 shares during the period. Finally, Signaturefd LLC boosted its holdings in Autodesk by 10.3% in the 3rd quarter. Signaturefd LLC now owns 2,224 shares of the software company’s stock worth $460,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.