Quest Partners LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Quest Partners LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK) during the third quarter, Holdings Channel.com reports. The fund bought 2,758 shares of the software company’s stock, valued at approximately $760,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC acquired a new position in shares of Autodesk in the 1st quarter valued at $26,000. Olistico Wealth LLC purchased a new position in Autodesk in the 2nd quarter worth about $26,000. Pacifica Partners Inc. raised its holdings in Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares during the period. Finally, Livelsberger Financial Advisory purchased a new stake in Autodesk during the third quarter valued at about $27,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value 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 approximately $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 in the last quarter. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of ADSK stock opened at $315.22 on Friday. The company has a market capitalization of $67.77 billion, a P/E ratio of 64.46, a P/E/G ratio of 3.90 and a beta of 1.47. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $317.45. The stock has a 50 day moving average of $285.29 and a two-hundred day moving average of $253.88. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho set a $260.00 price target on shares of Autodesk in a report on Friday, October 18th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Stifel Nicolaus upped their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Robert W. Baird increased their price objective on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Berenberg Bank lifted their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.38.

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.