Strategic Financial Concepts LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,058 shares of the software company's stock, valued at approximately $2,973,000.
A number of other hedge funds have also made changes to their positions in the stock. Creative Planning grew its holdings in Autodesk by 6.3% in the 3rd quarter. Creative Planning now owns 40,030 shares of the software company's stock valued at $11,028,000 after buying an additional 2,371 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Autodesk by 3.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,512 shares of the software company's stock worth $967,000 after buying an additional 129 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Autodesk by 10.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,438 shares of the software company's stock worth $6,457,000 after buying an additional 2,135 shares during the period. Aaron Wealth Advisors LLC bought a new position in shares of Autodesk during the 3rd quarter worth approximately $311,000. Finally, Blue Trust Inc. lifted its position in shares of Autodesk by 96.8% during the 3rd quarter. Blue Trust Inc. now owns 2,434 shares of the software company's stock worth $671,000 after buying an additional 1,197 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.
Autodesk Trading Down 2.7 %
Shares of NASDAQ ADSK traded down $8.04 during midday trading on Thursday, hitting $291.02. The stock had a trading volume of 1,578,538 shares, compared to its average volume of 1,374,186. The company's 50-day simple moving average is $298.99 and its 200 day simple moving average is $284.82. The firm has a market cap of $62.57 billion, a P/E ratio of 57.74, a price-to-earnings-growth ratio of 3.05 and a beta of 1.43. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week 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.
Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS 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 company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same period last year, the firm earned $1.33 EPS. The business's revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. UBS Group assumed coverage on Autodesk in a research report on Monday, December 2nd. They set a "buy" rating and a $350.00 target price for the company. Bank of America raised their target price on Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. BMO Capital Markets raised their target price on Autodesk from $287.00 to $308.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 27th. Scotiabank initiated coverage on Autodesk in a research report on Monday, November 18th. They set a "sector outperform" rating and a $360.00 target price for the company. Finally, KeyCorp lifted their price objective on Autodesk from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $334.45.
View Our Latest Research Report on ADSK
Autodesk Profile
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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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