Canandaigua National Bank & Trust Co. Raises Position in Autodesk, Inc. (NASDAQ:ADSK)

Canandaigua National Bank & Trust Co. grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,534 shares of the software company’s stock after acquiring an additional 178 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Autodesk were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Starboard Value LP bought a new stake in Autodesk during the third quarter valued at about $510,189,000. Point72 Asset Management L.P. grew its stake in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after acquiring an additional 662,339 shares during the period. International Assets Investment Management LLC increased its holdings in Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Autodesk by 394.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after acquiring an additional 452,728 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Autodesk by 818.3% during the second quarter. Marshall Wace LLP now owns 458,337 shares of the software company’s stock valued at $113,415,000 after purchasing an additional 408,424 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Mizuho raised their price target on Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Morgan Stanley upped their price objective on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. UBS Group initiated coverage on Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 target price on the stock. Finally, Rosenblatt Securities upped their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.95.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’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 transaction of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Autodesk Trading Down 0.5 %

Shares of ADSK stock opened at $292.51 on Tuesday. The company has a market cap of $62.89 billion, a PE ratio of 58.04, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The stock’s 50 day simple moving average is $301.02 and its two-hundred day simple moving average is $272.87. 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 released its quarterly 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 quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 EPS. Research analysts predict that Autodesk, Inc. will post 5.76 earnings per share 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.