Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 32,863.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,626 shares of the software company’s stock after acquiring an additional 3,615 shares during the period. Frank Rimerman Advisors LLC’s holdings in Autodesk were worth $897,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ADSK. Vanguard Group Inc. lifted its position in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after acquiring an additional 4,563,668 shares during the period. Ninety One UK Ltd boosted its position in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. FIL Ltd grew its stake in shares of Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

NASDAQ:ADSK opened at $268.46 on Tuesday. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a market cap of $57.86 billion, a P/E ratio of 58.11, a P/E/G ratio of 3.29 and a beta of 1.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $250.56 and its 200-day moving average price is $239.57.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ADSK. Berenberg Bank raised their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Mizuho raised their price objective on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Piper Sandler boosted their price objective on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. BMO Capital Markets increased their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Finally, Robert W. Baird cut their price target on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $292.17.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the completion of the sale, the director now directly owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the sale, the director now directly owns 31,016 shares in the company, valued at $7,857,283.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,762 shares of company stock valued at $10,046,302. Insiders own 0.14% of the company’s stock.

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.