The Autodesk Inc. (ADSK) Price Target Raised to $70.00 at Wedbush

The Autodesk Inc. (ADSK) Price Target Raised to $70.00 at Wedbush

Autodesk Inc. (NASDAQ:ADSK) had its price objective hoisted by Wedbush to $70.00 in a research report report published on Tuesday morning. They currently have a neutral rating on the software company’s stock.

ADSK has been the topic of several other reports. RBC Capital Markets reaffirmed a sector perform rating and set a $64.00 price objective (up from $60.00) on shares of Autodesk in a research report on Sunday, August 21st. Rosenblatt Securities cut Autodesk from a neutral rating to a sell rating in a research report on Tuesday, August 30th. Zacks Investment Research raised Autodesk from a hold rating to a buy rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 4th. Citigroup Inc. set a $65.00 price objective on Autodesk and gave the company a hold rating in a research report on Sunday, August 28th. Finally, Canaccord Genuity increased their price objective on Autodesk from $60.00 to $65.00 and gave the company a hold rating in a research report on Friday, August 26th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $68.42.

Autodesk (NASDAQ:ADSK) opened at 75.83 on Tuesday. The firm’s 50-day moving average price is $72.24 and its 200-day moving average price is $64.03. Autodesk has a 12-month low of $41.60 and a 12-month high of $78.58. The stock’s market cap is $16.83 billion.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.18. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. The company had revenue of $550.70 million for the quarter, compared to analysts’ expectations of $511.49 million. During the same period last year, the firm posted $0.19 earnings per share. Autodesk’s revenue was down 9.6% compared to the same quarter last year. On average, equities analysts predict that Autodesk will post ($0.60) EPS for the current fiscal year.

In other news, CFO Richard Scott Herren sold 1,500 shares of Autodesk stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $68.91, for a total value of $103,365.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Crawford W. Beveridge sold 7,000 shares of Autodesk stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $67.58, for a total value of $473,060.00. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Autodesk during the third quarter worth approximately $101,000. Howard Hughes Medical Institute bought a new position in shares of Autodesk during the second quarter worth approximately $113,000. Bessemer Group Inc. boosted its position in shares of Autodesk by 1,177.2% in the second quarter. Bessemer Group Inc. now owns 2,350 shares of the software company’s stock worth $127,000 after buying an additional 2,166 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Autodesk by 27.9% in the second quarter. Meeder Asset Management Inc. now owns 2,396 shares of the software company’s stock worth $130,000 after buying an additional 522 shares during the period. Finally, Mizuho Asset Management Co. Ltd. boosted its position in shares of Autodesk by 71.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,761 shares of the software company’s stock worth $149,000 after buying an additional 1,154 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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