SpiderRock Advisors LLC Makes New $280,000 Investment in Autodesk, Inc. (NASDAQ:ADSK)

SpiderRock Advisors LLC acquired a new position in Autodesk, Inc. (NASDAQ:ADSK) during the first quarter, HoldingsChannel.com reports. The fund acquired 1,096 shares of the software company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Autodesk during the fourth quarter valued at about $619,404,000. FIL Ltd increased its stake in Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares during the last quarter. Cantillon Capital Management LLC increased its stake in Autodesk by 35.1% in the 4th quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock valued at $414,551,000 after buying an additional 442,005 shares during the last quarter. Baillie Gifford & Co. increased its stake in Autodesk by 48.0% in the 4th quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock valued at $321,910,000 after buying an additional 429,071 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its position in shares of Autodesk by 349.8% during the 4th quarter. Morningstar Investment Services LLC now owns 491,224 shares of the software company’s stock worth $120,306,000 after buying an additional 382,026 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on ADSK. Mizuho decreased their price target on Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. StockNews.com lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. BMO Capital Markets lowered their price objective on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 12th. Piper Sandler restated a “neutral” rating and set a $239.00 price target on shares of Autodesk in a research note on Wednesday, June 12th. Finally, Bank of America dropped their price objective on Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $262.42.

Autodesk Price Performance

Shares of ADSK stock traded up $1.71 during trading hours on Friday, reaching $248.01. The stock had a trading volume of 743,279 shares, compared to its average volume of 1,761,470. The stock’s fifty day simple moving average is $223.52 and its 200 day simple moving average is $239.29. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $53.45 billion, a PE ratio of 53.65, a PEG ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Autodesk, Inc. will post 5.55 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders sold a total of 19,138 shares of company stock worth $4,338,701 over the last three months. 0.14% of the stock is owned by insiders.

About Autodesk

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.