Stifel Nicolaus Issues Pessimistic Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price target reduced by Stifel Nicolaus from $350.00 to $310.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 20.66% from the stock’s current price.

A number of other equities research analysts have also weighed in on ADSK. UBS Group upped their target price on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of Autodesk from $300.00 to $280.00 and set a “neutral” rating on the stock in a report on Wednesday. Scotiabank lowered their target price on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Macquarie restated an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a report on Friday, February 28th. Finally, Morgan Stanley increased their price objective on shares of Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $329.64.

Autodesk Stock Down 2.5 %

Shares of NASDAQ ADSK traded down $6.60 during trading on Thursday, hitting $256.93. 205,677 shares of the company traded hands, compared to its average volume of 1,686,186. The business’s fifty day moving average is $274.39 and its 200 day moving average is $287.44. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market capitalization of $54.73 billion, a price-to-earnings ratio of 50.98, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now directly owns 3,003 shares in the company, valued at $802,671.87. This represents a 44.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the stock in a transaction dated Friday, March 21st. The shares were bought at an average price of $267.10 per share, for a total transaction of $534,200.00. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $534,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in Autodesk in the 4th quarter worth $25,000. Investment Management Corp VA ADV purchased a new position in Autodesk in the 4th quarter worth $29,000. Tradewinds Capital Management LLC raised its position in Autodesk by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Autodesk in the 4th quarter worth $30,000. Finally, Addison Advisors LLC raised its position in Autodesk by 157.4% in the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after purchasing an additional 74 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.