Autodesk (NASDAQ:ADSK) Stock Price Up 4.2% – What’s Next?

Autodesk, Inc. (NASDAQ:ADSK) shares traded up 4.2% on Wednesday . The company traded as high as $269.76 and last traded at $270.80. 216,518 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,579,148 shares. The stock had previously closed at $259.95.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ADSK shares. Rosenblatt Securities restated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Morgan Stanley raised their price target on Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, February 28th. KeyCorp upped their price objective on Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $336.29.

Autodesk Trading Down 0.2 %

The company’s 50 day moving average price is $286.35 and its two-hundred day moving average price is $287.55. The firm has a market cap of $57.05 billion, a PE ratio of 53.14, a P/E/G ratio of 2.94 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Institutional Trading of Autodesk

Several institutional investors have recently added to or reduced their stakes in ADSK. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the fourth quarter valued at approximately $25,000. Investment Management Corp VA ADV purchased a new position in Autodesk during the 4th quarter valued at $29,000. Tradewinds Capital Management LLC grew 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 valued at $30,000 after acquiring an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Autodesk in the fourth quarter worth $30,000. Finally, Addison Advisors LLC lifted its position in shares of Autodesk by 157.4% during the fourth 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 last quarter. 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.