Advisory Alpha LLC Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

Advisory Alpha LLC boosted its position in Autodesk, Inc. (NASDAQ:ADSK) by 23.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,911 shares of the software company’s stock after purchasing an additional 366 shares during the period. Advisory Alpha LLC’s holdings in Autodesk were worth $473,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ADSK. CWA Asset Management Group LLC increased its stake in Autodesk by 13.5% in the 4th quarter. CWA Asset Management Group LLC now owns 1,812 shares of the software company’s stock valued at $441,000 after purchasing an additional 216 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Autodesk by 14.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 44,557 shares of the software company’s stock valued at $10,849,000 after purchasing an additional 5,660 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in Autodesk during the 4th quarter valued at $311,000. Stephens Investment Management Group LLC grew its holdings in Autodesk by 0.9% during the 4th quarter. Stephens Investment Management Group LLC now owns 35,552 shares of the software company’s stock valued at $8,656,000 after buying an additional 322 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Autodesk by 0.6% during the 4th quarter. First Trust Advisors LP now owns 488,784 shares of the software company’s stock valued at $119,009,000 after buying an additional 2,700 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the business’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 transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the business’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 sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,973 shares of company stock worth $10,106,590. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Berenberg Bank increased their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Morgan Stanley reiterated an “overweight” rating and set a $320.00 target price on shares of Autodesk in a report on Monday. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and increased their target price for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. DA Davidson started coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Finally, Rosenblatt Securities raised their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Autodesk Stock Performance

Shares of ADSK stock opened at $267.47 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $253.46 and a two-hundred day moving average of $240.15. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a market cap of $57.64 billion, a P/E ratio of 57.89, a PEG ratio of 3.41 and a beta of 1.48.

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