QRG Capital Management Inc. Acquires 3,259 Shares of Autodesk, Inc. (NASDAQ:ADSK)

QRG Capital Management Inc. lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,437 shares of the software company’s stock after buying an additional 3,259 shares during the period. QRG Capital Management Inc.’s holdings in Autodesk were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC bought a new stake in Autodesk during the first quarter worth about $26,000. Olistico Wealth LLC acquired a new stake in Autodesk during the second quarter worth about $26,000. Pacifica Partners Inc. grew its stake in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new position in Autodesk in the 3rd quarter valued at about $27,000. 90.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADSK. Piper Sandler increased their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Royal Bank of Canada boosted their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. BMO Capital Markets upped their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Finally, Rosenblatt Securities raised their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $292.95.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the sale, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,200,929 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Autodesk Trading Up 3.6 %

Shares of ADSK stock opened at $302.33 on Thursday. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $305.49. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market cap of $65.00 billion, a price-to-earnings ratio of 61.83, a PEG ratio of 3.64 and a beta of 1.47. The stock has a 50-day moving average of $274.06 and a 200-day moving average of $247.03.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 EPS. On average, equities research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

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.