QRG Capital Management Inc. grew its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 32.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,437 shares of the software company's stock after buying an additional 3,259 shares during the quarter. QRG Capital Management Inc.'s holdings in Autodesk were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its holdings in Autodesk by 11.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,758 shares of the software company's stock worth $718,000 after buying an additional 293 shares during the last quarter. Advisory Alpha LLC lifted its holdings in Autodesk by 33.4% during the 1st quarter. Advisory Alpha LLC now owns 1,545 shares of the software company's stock worth $402,000 after buying an additional 387 shares during the last quarter. Gallacher Capital Management LLC purchased a new stake in Autodesk during the 1st quarter worth about $213,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Autodesk by 10.9% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company's stock worth $13,097,000 after buying an additional 4,932 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in Autodesk by 3.5% during the 1st quarter. Empirical Finance LLC now owns 7,787 shares of the software company's stock worth $2,028,000 after buying an additional 261 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Rosenblatt Securities lifted their price target on Autodesk from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, August 30th. BMO Capital Markets boosted their price target on Autodesk from $254.00 to $287.00 and gave the company a "market perform" rating in a research report on Friday, August 30th. Bank of America boosted their price target on Autodesk from $260.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. Piper Sandler boosted their price target on Autodesk from $239.00 to $257.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company began coverage on Autodesk in a research report on Wednesday, October 16th. They issued an "overweight" rating and a $340.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $292.95.
View Our Latest Stock Report on ADSK
Autodesk Price Performance
Shares of NASDAQ:ADSK traded up $3.18 during trading on Thursday, hitting $305.51. 1,057,185 shares of the stock were exchanged, compared to its average volume of 1,579,859. The company has a fifty day moving average price of $274.06 and a two-hundred day moving average price of $247.03. The company has a market cap of $65.68 billion, a PE ratio of 62.53, a P/E/G ratio of 3.64 and a beta of 1.47. 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, Inc. has a 12-month low of $195.32 and a 12-month high of $306.23.
Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.
Insider Activity at Autodesk
In related news, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares of the company's stock, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the transaction, the director now owns 30,799 shares of the company's stock, valued at $8,787,262.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is owned by corporate insiders.
About Autodesk
(
Free Report)
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.
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