Atomi Financial Group Inc. Increases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Atomi Financial Group Inc. increased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 9.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,062 shares of the software company’s stock after buying an additional 90 shares during the quarter. Atomi Financial Group Inc.’s holdings in Autodesk were worth $263,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. bought a new stake in Autodesk during the fourth quarter worth about $25,000. Concord Wealth Partners bought a new stake in Autodesk during the first quarter worth about $25,000. New Covenant Trust Company N.A. bought a new stake in Autodesk during the first quarter worth about $25,000. LRI Investments LLC bought a new stake in Autodesk during the first quarter worth about $26,000. Finally, Olistico Wealth LLC bought a new stake in Autodesk during the second quarter worth about $26,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADSK. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Autodesk in a research note on Tuesday, June 18th. BMO Capital Markets lowered their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. KeyCorp reaffirmed an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research report on Monday. Stifel Nicolaus lowered their price target on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, Mizuho lowered 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.17.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the sale, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. The disclosure for this sale can be found here. Insiders sold a total of 39,931 shares of company stock worth $9,537,781 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Down 0.9 %

Shares of NASDAQ:ADSK opened at $254.62 on Thursday. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The business has a 50 day simple moving average of $245.14 and a two-hundred day simple moving average of $239.16. The firm has a market capitalization of $54.87 billion, a PE ratio of 55.11, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69.

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

Autodesk 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.