Autodesk (NASDAQ:ADSK) Hits New 52-Week High – What’s Next?

Autodesk, Inc. (NASDAQ:ADSK)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $315.45 and last traded at $315.15, with a volume of 282478 shares changing hands. The stock had previously closed at $309.73.

Analyst Ratings Changes

Several analysts have issued reports on ADSK shares. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Rosenblatt Securities lifted their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. DA Davidson began coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price for the company. KeyCorp reaffirmed an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Finally, Stifel Nicolaus increased their price target on Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Stock Performance

The company has a market capitalization of $65.93 billion, a price-to-earnings ratio of 62.71, a P/E/G ratio of 3.93 and a beta of 1.47. The stock’s 50 day moving average price is $279.25 and its 200 day moving average price is $250.27. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.12 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,730 shares of company stock worth $5,064,430. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ADSK. New Covenant Trust Company N.A. bought a new position in Autodesk during the first quarter worth $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the 1st quarter worth about $26,000. Olistico Wealth LLC acquired a new position in shares of Autodesk in the 2nd quarter valued at about $26,000. Pacifica Partners Inc. boosted its position in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Autodesk during the third quarter worth approximately $27,000. Institutional investors and hedge funds 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.