Versor Investments LP Buys New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Versor Investments LP purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,802 shares of the software company’s stock, valued at approximately $496,000.

A number of other hedge funds also recently bought and sold shares of the stock. Jag Capital Management LLC purchased a new stake in Autodesk during the third quarter worth approximately $13,861,000. Cetera Investment Advisers lifted its position in shares of Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after buying an additional 38,196 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Autodesk by 32.0% in the 3rd quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after buying an additional 3,259 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in Autodesk by 8.2% during the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after acquiring an additional 49,500 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

Autodesk stock opened at $306.65 on Friday. The company has a market cap of $65.93 billion, a P/E ratio of 64.04, a price-to-earnings-growth ratio of 3.93 and a beta of 1.47. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73. The business has a fifty day moving average of $279.25 and a two-hundred day moving average of $250.27. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADSK. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. DA Davidson assumed coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective for the company. Citigroup set a $325.00 target price on shares of Autodesk and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler upped their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.95.

Insider Buying and Selling

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

Autodesk 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.