Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 84.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,728 shares of the software company’s stock after buying an additional 790 shares during the period. Merit Financial Group LLC’s holdings in Autodesk were worth $511,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the last quarter. FMR LLC increased its holdings in shares of Autodesk by 0.8% in the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Autodesk by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after purchasing an additional 61,785 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the period. Finally, Legal & General Group Plc grew its position in Autodesk by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after purchasing an additional 81,314 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADSK. Mizuho upped their target price on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Robert W. Baird upped their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. BMO Capital Markets increased their price objective on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, UBS Group initiated coverage on Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $326.05.

Autodesk Stock Performance

ADSK opened at $301.08 on Friday. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The stock has a market cap of $64.73 billion, a P/E ratio of 59.74, a P/E/G ratio of 3.50 and a beta of 1.42. The stock’s 50 day simple moving average is $299.50 and its 200 day simple moving average is $276.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, equities analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

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.