Range Financial Group LLC Takes $276,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

Range Financial Group LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 934 shares of the software company’s stock, valued at approximately $276,000.

Other institutional investors have also recently added to or reduced their stakes in the company. One Wealth Capital Management LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $264,000. Canandaigua National Bank & Trust Co. increased its holdings in Autodesk by 4.1% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 4,534 shares of the software company’s stock worth $1,340,000 after purchasing an additional 178 shares during the last quarter. Fortem Financial Group LLC raised its position in shares of Autodesk by 1.1% in the 4th quarter. Fortem Financial Group LLC now owns 7,737 shares of the software company’s stock valued at $2,287,000 after purchasing an additional 81 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Autodesk by 7.2% during the 4th quarter. Nordea Investment Management AB now owns 17,498 shares of the software company’s stock valued at $5,199,000 after buying an additional 1,174 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Autodesk during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’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 value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Autodesk Stock Performance

Shares of ADSK stock opened at $290.82 on Wednesday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $62.53 billion, a price-to-earnings ratio of 57.70, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. The business has a 50 day simple moving average of $301.04 and a 200 day simple moving average of $273.21.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADSK. Robert W. Baird upped their price target on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Mizuho increased their price target on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. KeyCorp upped their price objective on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley boosted their price target on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $323.95.

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.