Balentine LLC Increases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Balentine LLC raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 53.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,641 shares of the software company’s stock after buying an additional 569 shares during the quarter. Balentine LLC’s holdings in Autodesk were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bfsg LLC purchased a new stake in Autodesk during the 4th quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in Autodesk during the 4th quarter valued at $28,000. Private Wealth Management Group LLC purchased a new stake in Autodesk during the 4th quarter valued at $31,000. First United Bank & Trust purchased a new stake in Autodesk during the 4th quarter valued at $34,000. Finally, AdvisorNet Financial Inc raised its stake in Autodesk by 67.1% during the 4th quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock valued at $35,000 after buying an additional 57 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.5 %

ADSK opened at $219.20 on Wednesday. The firm has a 50-day simple moving average of $234.03 and a two-hundred day simple moving average of $237.20. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a market capitalization of $47.23 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 3.04 and a beta of 1.45. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

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

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,616 shares of company stock valued at $9,319,448. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the subject of several analyst reports. Oppenheimer upped their price objective on Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Berenberg Bank lowered Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a research note on Wednesday, May 1st. KeyCorp reduced their price objective on Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets upped their price objective on Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Finally, Piper Sandler increased their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $273.83.

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.