Soltis Investment Advisors LLC Raises Stake in Autodesk, Inc. (NASDAQ:ADSK)

Soltis Investment Advisors LLC increased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 438.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,684 shares of the software company's stock after acquiring an additional 13,584 shares during the quarter. Soltis Investment Advisors LLC's holdings in Autodesk were worth $4,931,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADSK. Golden State Wealth Management LLC bought a new stake in Autodesk during the 4th quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in Autodesk during the 3rd quarter valued at $27,000. Concord Wealth Partners bought a new stake in Autodesk during the 3rd quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in Autodesk during the 3rd quarter valued at $28,000. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk during the 4th quarter valued at $37,000. Institutional investors own 90.24% of the company's stock.

Autodesk Price Performance

Shares of ADSK traded up $6.20 during midday trading on Thursday, hitting $303.48. 1,288,008 shares of the company traded hands, compared to its average volume of 1,327,507. The stock has a 50-day moving average of $299.58 and a 200-day moving average of $282.74. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The firm has a market cap of $65.25 billion, a P/E ratio of 60.21, a PEG ratio of 3.17 and a beta of 1.43. 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 - Get Free Report) last announced 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. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company's revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Analyst Ratings Changes

ADSK has been the subject of a number of recent research reports. Oppenheimer boosted their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. BMO Capital Markets lifted their price objective 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. Rosenblatt Securities lifted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Macquarie began coverage on shares of Autodesk in a report on Thursday, December 12th. They set an "outperform" rating and a $380.00 price objective on the stock. Finally, Robert W. Baird boosted their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $333.77.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 30,249 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Autodesk Company Profile

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.