Syon Capital LLC Buys New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Syon Capital LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,134 shares of the software company’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADSK. Bfsg LLC purchased a new position in shares of Autodesk in the fourth quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in Autodesk during the fourth quarter worth $28,000. Private Wealth Management Group LLC purchased a new position in Autodesk during the fourth quarter worth $31,000. First United Bank & Trust purchased a new position in Autodesk during the fourth quarter worth $34,000. Finally, Operose Advisors LLC purchased a new position in Autodesk during the third quarter worth $35,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ADSK. Robert W. Baird dropped their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. Piper Sandler reaffirmed a “neutral” rating and set a $239.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. Barclays dropped their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Morgan Stanley reiterated an “equal weight” rating and set a $255.00 target price on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Mizuho decreased their target price on Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $262.42.

Autodesk Stock Performance

ADSK stock opened at $240.51 on Tuesday. The company has a market capitalization of $51.95 billion, a P/E ratio of 52.06, a PEG ratio of 3.02 and a beta of 1.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50-day moving average price of $218.62 and a 200 day moving average price of $237.94. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.77 by $0.10. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current fiscal 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 dated 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 completion of the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,501 shares of company stock valued at $11,714,162. 0.14% of the stock is currently 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.