Autodesk, Inc. (NASDAQ:ADSK) Stock Holdings Raised by Summit Global Investments

Summit Global Investments lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 321.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,675 shares of the software company’s stock after buying an additional 2,802 shares during the quarter. Summit Global Investments’ holdings in Autodesk were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Marshall Financial Group LLC lifted its holdings in Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after buying an additional 35 shares during the last quarter. Avitas Wealth Management LLC lifted its stake in Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after purchasing an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares during the period. Johnson Investment Counsel Inc. increased its stake in Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network raised its holdings in shares of Autodesk by 2.6% during the third quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock worth $516,000 after purchasing an additional 47 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADSK shares. Oppenheimer boosted their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Citigroup set a $325.00 price target on Autodesk and gave the stock a “buy” rating in a research report on Friday, October 18th. DA Davidson assumed coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. KeyCorp reaffirmed an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research report on Monday, August 26th. Finally, Morgan Stanley reissued an “overweight” rating and set a $320.00 price target on shares of Autodesk in a report on Monday, September 30th. Eight 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. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $292.95.

Autodesk Trading Up 0.0 %

Shares of ADSK stock opened at $305.56 on Friday. The stock has a 50-day simple moving average of $275.95 and a 200 day simple moving average of $248.05. The stock has a market capitalization of $65.70 billion, a P/E ratio of 62.49, a P/E/G ratio of 3.84 and a beta of 1.47. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $307.17. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

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

Insider Transactions at Autodesk

In other news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, 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 sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,200,929 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

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.