Assetmark Inc. Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Assetmark Inc. boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 282.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 531 shares of the software company’s stock after acquiring an additional 392 shares during the period. Assetmark Inc.’s holdings in Autodesk were worth $146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADSK. Cetera Investment Advisers boosted its holdings in shares of Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after buying an additional 3,800 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Autodesk by 32.0% in the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock worth $3,702,000 after buying an additional 3,259 shares in the last quarter. Primecap Management Co. CA boosted its stake in Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after buying an additional 49,500 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in Autodesk by 57.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,646 shares of the software company’s stock valued at $4,335,000 after buying an additional 6,044 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADSK. Citigroup set a $325.00 price objective on Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays increased their price objective on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Autodesk in a research note on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price objective for the company. Piper Sandler upped their target price on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.20.

Autodesk Stock Performance

ADSK stock opened at $299.15 on Monday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $315.73. The firm has a market cap of $64.32 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 3.82 and a beta of 1.47. The business’s fifty day simple moving average is $281.32 and its two-hundred day simple moving average is $251.79. 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 posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 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 the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 EPS. Analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Activity at Autodesk

In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,280 shares of company stock worth $5,232,213. Company insiders own 0.14% of the company’s stock.

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.