Brookstone Capital Management Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

Brookstone Capital Management lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 1,058.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,296 shares of the software company's stock after acquiring an additional 26,768 shares during the quarter. Brookstone Capital Management's holdings in Autodesk were worth $8,659,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in Autodesk during the third quarter valued at about $27,000. Concord Wealth Partners purchased a new stake in Autodesk during the 3rd quarter valued at about $28,000. Transcendent Capital Group LLC bought a new position in Autodesk during the 3rd quarter worth approximately $28,000. Central Pacific Bank Trust Division purchased a new position in Autodesk in the 4th quarter worth approximately $37,000. Finally, Wolff Wiese Magana LLC lifted its position in Autodesk by 3,625.0% in the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company's stock valued at $41,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Autodesk Stock Performance

Shares of ADSK stock traded up $2.05 during mid-day trading on Tuesday, reaching $286.87. 1,137,566 shares of the company's stock traded hands, compared to its average volume of 1,391,264. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $61.68 billion, a PE ratio of 56.92, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a 50 day moving average price of $301.35 and a two-hundred day moving average price of $274.58.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $1.33 EPS. The company's revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on ADSK shares. UBS Group assumed coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a "buy" rating and a $350.00 target price on the stock. Robert W. Baird boosted their price objective on shares of Autodesk from $305.00 to $330.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. BMO Capital Markets increased their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a "market perform" rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Autodesk from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, Mizuho increased their price objective on Autodesk from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $326.05.

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.