Wealthcare Advisory Partners LLC Acquires New Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Wealthcare Advisory Partners LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the first quarter, HoldingsChannel reports. The firm acquired 813 shares of the software company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brookstone Capital Management raised its stake in shares of Autodesk by 9.5% during the first quarter. Brookstone Capital Management now owns 1,389 shares of the software company’s stock valued at $362,000 after purchasing an additional 121 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Autodesk by 97.4% during the first quarter. Sunbelt Securities Inc. now owns 987 shares of the software company’s stock valued at $257,000 after purchasing an additional 487 shares in the last quarter. Navalign LLC raised its stake in shares of Autodesk by 4.0% during the first quarter. Navalign LLC now owns 2,660 shares of the software company’s stock valued at $693,000 after purchasing an additional 103 shares in the last quarter. FCF Advisors LLC raised its stake in shares of Autodesk by 5.5% during the first quarter. FCF Advisors LLC now owns 14,004 shares of the software company’s stock valued at $3,647,000 after purchasing an additional 729 shares in the last quarter. Finally, Fort Pitt Capital Group LLC raised its stake in shares of Autodesk by 24.1% during the first quarter. Fort Pitt Capital Group LLC now owns 2,734 shares of the software company’s stock valued at $712,000 after purchasing an additional 531 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Trading Down 0.7 %

Shares of NASDAQ ADSK opened at $245.83 on Tuesday. The stock has a market cap of $52.98 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 3.31 and a beta of 1.48. The business has a 50 day simple moving average of $221.13 and a 200 day simple moving average of $239.12. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69.

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

Analyst Ratings Changes

Several equities research analysts have commented on ADSK shares. Morgan Stanley reiterated an “equal weight” rating and issued a $255.00 price target on shares of Autodesk in a research report on Wednesday, June 12th. KeyCorp cut their price objective on Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Berenberg Bank downgraded Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a report on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and set a $275.00 price objective on shares of Autodesk in a report on Tuesday, June 18th. Finally, BMO Capital Markets cut their price objective on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $262.42.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Steven M. Blum sold 17,413 shares of the company’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 directly owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares of the company’s stock, valued at $7,418,010. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,138 shares of company stock worth $4,338,701. 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.