Summit Global Investments Purchases 2,802 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Summit Global Investments raised its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 321.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,675 shares of the software company's stock after purchasing an additional 2,802 shares during the period. Summit Global Investments' holdings in Autodesk were worth $1,012,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lifestyle Asset Management Inc. increased its stake in Autodesk by 7.2% in the third quarter. Lifestyle Asset Management Inc. now owns 4,176 shares of the software company's stock valued at $1,150,000 after purchasing an additional 279 shares during the last quarter. Principal Financial Group Inc. increased its position in Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company's stock worth $603,947,000 after purchasing an additional 245,816 shares during the last quarter. Graypoint LLC raised its stake in Autodesk by 12.8% during the third quarter. Graypoint LLC now owns 3,818 shares of the software company's stock worth $1,052,000 after purchasing an additional 432 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Autodesk by 8.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,578 shares of the software company's stock valued at $710,000 after purchasing an additional 194 shares during the last quarter. Finally, Maia Wealth LLC grew its stake in shares of Autodesk by 13.9% during the 3rd quarter. Maia Wealth LLC now owns 4,870 shares of the software company's stock valued at $1,392,000 after buying an additional 593 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Trading Up 0.0 %

Shares of NASDAQ:ADSK traded up $0.05 during mid-day trading on Friday, hitting $305.56. The stock had a trading volume of 968,605 shares, compared to its average volume of 1,238,804. The company's 50 day moving average is $275.95 and its 200-day moving average is $248.26. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $307.17. The company has a market cap of $65.70 billion, a PE ratio of 62.49, a P/E/G ratio of 3.84 and a beta of 1.47.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $1.12 EPS. On average, sell-side analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the sale, the director now directly owns 31,899 shares of the company's stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company's stock, valued at approximately $4,616,730. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Autodesk from $275.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, August 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, September 30th. DA Davidson initiated coverage on shares of Autodesk in a research report on Friday, September 27th. They issued a "neutral" rating and a $260.00 price objective for the company. Piper Sandler upped their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group raised Autodesk from a "sell" rating to a "neutral" rating and raised their price objective for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Eight 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 stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.95.

Autodesk 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.