Pinnacle Wealth Management Advisory Group LLC Invests $232,000 in Autodesk, Inc. (NASDAQ:ADSK)

Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 952 shares of the software company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bfsg LLC acquired a new position in Autodesk in the 4th quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in shares of Autodesk in the 4th quarter worth $28,000. Operose Advisors LLC purchased a new stake in shares of Autodesk in the third quarter valued at about $35,000. AdvisorNet Financial Inc increased its stake in shares of Autodesk by 67.1% during the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock worth $35,000 after acquiring an additional 57 shares during the period. Finally, VisionPoint Advisory Group LLC raised its holdings in Autodesk by 230.5% during the third quarter. VisionPoint Advisory Group LLC now owns 195 shares of the software company’s stock worth $40,000 after purchasing an additional 136 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADSK shares. StockNews.com cut Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Piper Sandler Companies increased their price objective on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. KeyCorp boosted their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Rosenblatt Securities increased their price target on shares of Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Mizuho boosted their price objective on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $274.67.

Autodesk Price Performance

ADSK stock traded up $3.54 during trading on Thursday, hitting $217.49. The stock had a trading volume of 707,062 shares, compared to its average volume of 1,461,300. The company’s 50 day moving average price is $241.58 and its two-hundred day moving average price is $235.84. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a market cap of $46.86 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45. Autodesk, Inc. has a 1-year low of $191.26 and a 1-year high of $279.53.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.95 by $0.14. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. Autodesk’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is owned by company insiders.

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.