Graypoint LLC Raises Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Graypoint LLC boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,937 shares of the software company’s stock after buying an additional 119 shares during the quarter. Graypoint LLC’s holdings in Autodesk were worth $1,164,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jag Capital Management LLC purchased a new position in Autodesk in the 3rd quarter worth about $13,861,000. LMR Partners LLP purchased a new position in Autodesk in the 3rd quarter worth about $12,643,000. Starboard Value LP purchased a new position in Autodesk in the 3rd quarter worth about $510,189,000. Erste Asset Management GmbH purchased a new stake in shares of Autodesk during the 3rd quarter valued at about $20,087,000. Finally, Bank of Montreal Can increased its position in shares of Autodesk by 8.7% during the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after purchasing an additional 73,363 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ADSK. Robert W. Baird upped their price target on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Mizuho upped their price target on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Rosenblatt Securities upped their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a research report on Friday, November 29th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $326.05.

Autodesk Trading Down 3.8 %

ADSK stock opened at $284.96 on Friday. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $61.27 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 3.62 and a beta of 1.42. The business has a 50 day simple moving average of $301.41 and a two-hundred day simple moving average of $273.85.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. Research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

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.