Concurrent Investment Advisors LLC Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

Concurrent Investment Advisors LLC lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,578 shares of the software company’s stock after purchasing an additional 194 shares during the period. Concurrent Investment Advisors LLC’s holdings in Autodesk were worth $710,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Maia Wealth LLC boosted its holdings in Autodesk by 13.9% in the 3rd quarter. Maia Wealth LLC now owns 4,870 shares of the software company’s stock worth $1,392,000 after buying an additional 593 shares during the period. Umpqua Bank boosted its holdings in shares of Autodesk by 1.8% in the third quarter. Umpqua Bank now owns 5,015 shares of the software company’s stock worth $1,382,000 after acquiring an additional 89 shares during the period. Marks Group Wealth Management Inc raised its stake in shares of Autodesk by 6.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 10,643 shares of the software company’s stock valued at $2,932,000 after purchasing an additional 645 shares during the period. Moloney Securities Asset Management LLC lifted its holdings in Autodesk by 43.1% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 4,818 shares of the software company’s stock worth $1,327,000 after purchasing an additional 1,450 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in Autodesk by 162.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 538 shares of the software company’s stock valued at $148,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company started coverage on shares of Autodesk in a report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price target on the stock. Rosenblatt Securities lifted their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. DA Davidson started coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. Finally, BMO Capital Markets raised their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,200,929 in the last quarter. Insiders own 0.14% of the company’s stock.

Autodesk Trading Up 0.0 %

NASDAQ ADSK opened at $305.56 on Friday. The stock has a 50-day moving average of $275.95 and a 200-day moving average of $248.05. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $307.17. The firm has a market cap of $65.70 billion, a PE ratio of 62.49, a price-to-earnings-growth ratio of 3.84 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Autodesk Company 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.