Strengthening Families & Communities LLC Acquires 614 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Strengthening Families & Communities LLC raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,416 shares of the software company’s stock after acquiring an additional 614 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Autodesk were worth $2,043,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jag Capital Management LLC bought a new position in shares of Autodesk in the third quarter valued at $13,861,000. Cetera Investment Advisers grew its stake in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares in the last quarter. Forsta AP Fonden grew its stake in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Autodesk by 32.0% in the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after buying an additional 3,259 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in shares of Autodesk by 8.2% in the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after buying an additional 49,500 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Down 2.4 %

ADSK stock opened at $299.15 on Monday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $315.73. The business has a 50-day simple moving average of $281.32 and a 200 day simple moving average of $251.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market cap of $64.32 billion, a PE ratio of 61.18, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm posted $1.12 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Mizuho set a $260.00 target price on shares of Autodesk in a research note on Friday, October 18th. Stifel Nicolaus raised their target price on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Citigroup set a $325.00 price target on Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada raised their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $320.00 price target on shares of Autodesk in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $296.20.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

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.