Autodesk (ADSK) Given New $175.00 Price Target at Oppenheimer
Autodesk (NASDAQ:ADSK) had its price objective lifted by analysts at Oppenheimer from $150.00 to $175.00 in a research note issued on Friday, August 24th, MarketBeat.com reports. The firm currently has an “outperform” rating on the software company’s stock. Oppenheimer’s price objective points to a potential upside of 15.63% from the company’s previous close.
A number of other equities analysts have also weighed in on ADSK. BidaskClub upgraded Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Wedbush reiterated a “neutral” rating and set a $137.00 target price on shares of Autodesk in a research note on Friday, May 25th. Deutsche Bank raised their price objective on Autodesk from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. Zacks Investment Research upgraded Autodesk from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Barclays raised their price objective on Autodesk from $152.00 to $166.00 and gave the stock an “overweight” rating in a research note on Friday, August 24th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $161.63.
Shares of ADSK stock traded down $0.03 on Friday, hitting $151.35. 1,492,758 shares of the stock were exchanged, compared to its average volume of 2,209,821. Autodesk has a fifty-two week low of $101.55 and a fifty-two week high of $159.94. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of -6.57.
In other Autodesk news, Director Lorrie M. Norrington sold 5,001 shares of Autodesk stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $156.75, for a total transaction of $783,906.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 7,185 shares of Autodesk stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $138.78, for a total value of $997,134.30. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Autodesk by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,569,743 shares of the software company’s stock worth $205,778,000 after acquiring an additional 32,082 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Autodesk by 44.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 59,991 shares of the software company’s stock worth $7,864,000 after acquiring an additional 18,384 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Autodesk by 101.0% in the 2nd quarter. Nomura Holdings Inc. now owns 8,532 shares of the software company’s stock worth $1,118,000 after acquiring an additional 830,900 shares in the last quarter. Andra AP fonden bought a new position in shares of Autodesk in the 2nd quarter worth about $5,230,000. Finally, Global X Management Co LLC raised its position in shares of Autodesk by 100.7% in the 2nd quarter. Global X Management Co LLC now owns 11,274 shares of the software company’s stock worth $1,478,000 after acquiring an additional 5,657 shares in the last quarter. 95.98% of the stock is owned by hedge funds and other institutional investors.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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