Brookstone Capital Management Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Brookstone Capital Management grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,389 shares of the software company’s stock after purchasing an additional 121 shares during the period. Brookstone Capital Management’s holdings in Autodesk were worth $362,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Sunbelt Securities Inc. lifted its holdings in Autodesk by 97.4% during the 1st quarter. Sunbelt Securities Inc. now owns 987 shares of the software company’s stock worth $257,000 after buying an additional 487 shares in the last quarter. Navalign LLC boosted its holdings in Autodesk by 4.0% in the first quarter. Navalign LLC now owns 2,660 shares of the software company’s stock valued at $693,000 after purchasing an additional 103 shares during the period. FCF Advisors LLC grew its stake in Autodesk by 5.5% during the 1st quarter. FCF Advisors LLC now owns 14,004 shares of the software company’s stock worth $3,647,000 after purchasing an additional 729 shares in the last quarter. Fort Pitt Capital Group LLC increased its holdings in Autodesk by 24.1% during the 1st quarter. Fort Pitt Capital Group LLC now owns 2,734 shares of the software company’s stock worth $712,000 after purchasing an additional 531 shares during the period. Finally, Ballentine Partners LLC raised its position in Autodesk by 4.6% in the 1st quarter. Ballentine Partners LLC now owns 5,643 shares of the software company’s stock valued at $1,470,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird cut their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. KeyCorp dropped their price objective on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Autodesk in a research report on Tuesday, June 18th. Mizuho lowered their target price on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, BMO Capital Markets cut their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $262.42.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold a total of 19,138 shares of company stock valued at $4,338,701 in the last ninety days. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $245.83 on Tuesday. The firm’s fifty day simple moving average is $221.13 and its 200-day simple moving average is $239.12. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The stock has a market capitalization of $52.98 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 3.31 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted $1.55 earnings per share. Autodesk’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Autodesk, Inc. will post 5.55 earnings per share for the current year.

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.