Autodesk (NASDAQ:ADSK) Price Target Cut to $230.00

Autodesk (NASDAQ:ADSK) had its price objective dropped by investment analysts at Mizuho from $270.00 to $230.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the software company’s stock. Mizuho’s price target suggests a potential upside of 6.34% from the stock’s current price.

ADSK has been the topic of a number of other research reports. Piper Sandler Companies boosted their price objective on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Bank of America cut their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a report on Monday. Rosenblatt Securities boosted their price objective on shares of Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. KeyCorp cut their price objective on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Finally, Barclays upped their target price on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $269.05.

Autodesk Stock Performance

Shares of ADSK stock opened at $216.28 on Tuesday. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. 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 firm has a market capitalization of $46.60 billion, a P/E ratio of 51.37, a P/E/G ratio of 2.90 and a beta of 1.43. The company’s fifty day moving average price is $223.36 and its two-hundred day moving average price is $237.07.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $256.66, for a total transaction of $141,163.00. Following the completion of the sale, the director now owns 33,216 shares of the company’s stock, valued at approximately $8,525,218.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $256.66, for a total value of $141,163.00. Following the completion of the transaction, the director now owns 33,216 shares in the company, valued at approximately $8,525,218.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now 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 28,988 shares of company stock valued at $7,534,941 in the last quarter. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC boosted its holdings in shares of Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock valued at $378,000 after acquiring an additional 169 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Autodesk by 153.0% in the fourth quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock valued at $93,589,000 after acquiring an additional 232,441 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Autodesk by 86.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after acquiring an additional 4,381 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Autodesk in the third quarter valued at approximately $330,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Autodesk by 58.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after acquiring an additional 6,481 shares in the last quarter. 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.