Empowered Funds LLC Purchases 979 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Empowered Funds LLC lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 26.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,743 shares of the software company’s stock after acquiring an additional 979 shares during the period. Empowered Funds LLC’s holdings in Autodesk were worth $1,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Marshall Financial Group LLC raised its stake in shares of Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after buying an additional 35 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings in Autodesk by 0.8% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after purchasing an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after buying an additional 44 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after buying an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings in shares of Autodesk by 2.6% during the third quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock worth $516,000 after buying an additional 47 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Up 2.4 %

NASDAQ:ADSK opened at $315.22 on Friday. The company has a market cap of $67.77 billion, a PE ratio of 64.46, a PEG ratio of 3.90 and a beta of 1.47. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $317.45. The stock has a 50-day simple moving average of $285.29 and a 200 day simple moving average of $253.88. 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 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $1.12 EPS. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 in the last quarter. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays increased their price objective on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America upped their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Wells Fargo & Company initiated coverage on Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $320.00 price objective on shares of Autodesk in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $302.38.

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.