Caprock Group LLC Purchases 394 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Caprock Group LLC increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,266 shares of the software company’s stock after acquiring an additional 394 shares during the period. Caprock Group LLC’s holdings in Autodesk were worth $1,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk in the first quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Autodesk during the 1st quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in shares of Autodesk in the 3rd quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk in the third quarter worth $28,000. Finally, Concord Wealth Partners purchased a new stake in Autodesk during the third quarter valued at $28,000. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

NASDAQ:ADSK opened at $315.22 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $67.77 billion, a price-to-earnings ratio of 64.46, a PEG ratio of 3.90 and a beta of 1.47. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $317.45. The stock’s 50 day simple moving average is $285.29 and its two-hundred day simple moving average is $253.88.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ADSK shares. Royal Bank of Canada boosted their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Barclays increased their price target on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and boosted their price target for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $302.38.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were 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 represents a 50.36 % decrease in their position. 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. Corporate 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.