HB Wealth Management LLC Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

HB Wealth Management LLC decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,064 shares of the software company’s stock after selling 167 shares during the period. HB Wealth Management LLC’s holdings in Autodesk were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in shares of Autodesk in the third quarter worth about $27,000. Concord Wealth Partners purchased a new stake in Autodesk in the 3rd quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in Autodesk during the 3rd quarter worth approximately $28,000. Central Pacific Bank Trust Division purchased a new position in Autodesk during the fourth quarter valued at approximately $37,000. Finally, Wolff Wiese Magana LLC boosted its position in shares of Autodesk by 3,625.0% in the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after purchasing an additional 145 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Stifel Nicolaus boosted their price objective on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, Citigroup increased their price objective on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.05.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The stock was 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 $9,227,759.94. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Autodesk Stock Up 0.5 %

Shares of ADSK opened at $291.45 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a market cap of $62.66 billion, a PE ratio of 57.83, a P/E/G ratio of 3.36 and a beta of 1.42. The business has a fifty day moving average of $300.44 and a 200 day moving average of $275.79.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company earned $1.33 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Autodesk, Inc. will post 5.76 EPS 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.