Autodesk’s (ADSK) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $340.00 price objective on the software company’s stock.

A number of other brokerages have also recently commented on ADSK. UBS Group lifted their price objective on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company dropped their price target on Autodesk from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Barclays lowered their price objective on Autodesk from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, KeyCorp cut their target price on Autodesk from $335.00 to $323.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.59.

Autodesk Trading Down 0.0%

ADSK stock opened at $295.84 on Tuesday. The firm has a fifty day moving average price of $269.48 and a 200 day moving average price of $286.57. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market cap of $63.29 billion, a PE ratio of 58.70, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $534,200. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the sale, the chief accounting officer now directly owns 3,003 shares of the company’s stock, valued at $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Freedom Investment Management Inc. grew its stake in Autodesk by 2.4% in the first quarter. Freedom Investment Management Inc. now owns 1,473 shares of the software company’s stock valued at $386,000 after purchasing an additional 34 shares during the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock worth $551,000 after buying an additional 35 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of Autodesk by 1.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after buying an additional 35 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after acquiring an additional 37 shares in the last quarter. Finally, Journey Strategic Wealth LLC lifted its position in Autodesk by 4.6% during the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after acquiring an additional 37 shares during the last quarter. 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.