Triasima Portfolio Management inc. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Triasima Portfolio Management inc. acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,905 shares of the software company's stock, valued at approximately $2,041,000.

Other institutional investors also recently modified their holdings of the company. Starboard Value LP acquired a new position in Autodesk during the 3rd quarter worth approximately $510,189,000. International Assets Investment Management LLC lifted its holdings in shares of Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company's stock worth $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company's stock worth $156,296,000 after buying an additional 452,728 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company's stock worth $413,405,000 after acquiring an additional 387,309 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company's stock worth $2,702,028,000 after acquiring an additional 288,931 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

Autodesk stock traded down $5.40 during midday trading on Tuesday, hitting $299.60. The stock had a trading volume of 722,026 shares, compared to its average volume of 1,298,541. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $64.41 billion, a PE ratio of 59.42, a P/E/G ratio of 3.17 and a beta of 1.43. The firm's fifty day moving average is $299.70 and its two-hundred day moving average is $282.22.

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

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction dated 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 of the company's stock, 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 SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stifel Nicolaus boosted their price objective on Autodesk from $340.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Barclays raised their price objective on Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Piper Sandler raised shares of Autodesk from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Bank of America lifted their price objective on shares of Autodesk from $325.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird lifted their price target on Autodesk from $305.00 to $330.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $333.77.

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.