Franklin Resources Inc. Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Franklin Resources Inc. raised its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 36.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,448,968 shares of the software company's stock after purchasing an additional 387,309 shares during the quarter. Franklin Resources Inc. owned 0.67% of Autodesk worth $413,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in Autodesk during the 3rd quarter worth about $27,000. Concord Wealth Partners bought a new stake in Autodesk during the third quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the 3rd quarter worth about $28,000. Stephens Consulting LLC bought a new position in shares of Autodesk during the 2nd quarter valued at about $32,000. Finally, ORG Partners LLC raised its holdings in shares of Autodesk by 116.7% during the 2nd quarter. ORG Partners LLC now owns 143 shares of the software company's stock valued at $35,000 after buying an additional 77 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ADSK. Piper Sandler raised their price target on Autodesk from $257.00 to $311.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. The Goldman Sachs Group raised shares of Autodesk from a "sell" rating to a "neutral" rating and raised their price target for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Royal Bank of Canada boosted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Macquarie assumed coverage on shares of Autodesk in a research report on Thursday. They set an "outperform" rating and a $380.00 target price for the company. Finally, UBS Group began coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a "buy" rating and a $350.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $323.05.

Autodesk Stock Down 1.8 %

Shares of NASDAQ ADSK traded down $5.57 during mid-day trading on Friday, reaching $303.77. The company had a trading volume of 1,131,004 shares, compared to its average volume of 1,587,187. The stock has a fifty day moving average of $296.76 and a two-hundred day moving average of $263.57. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 3.62 and a beta of 1.43. 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 quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. As a group, equities research analysts expect that Autodesk, Inc. will post 5.76 EPS for the current year.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the 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 transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction 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. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,936 shares of company stock valued at $549,333. Company insiders own 0.14% of the company's stock.

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.