Thoroughbred Financial Services LLC Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Thoroughbred Financial Services LLC increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 95.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,378 shares of the software company’s stock after purchasing an additional 1,159 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Autodesk were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. purchased a new stake in Autodesk in the 4th quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Autodesk in the 1st quarter valued at about $25,000. New Covenant Trust Company N.A. purchased a new stake in Autodesk in the 1st quarter valued at about $25,000. LRI Investments LLC purchased a new stake in Autodesk in the 1st quarter valued at about $26,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk in the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. KeyCorp reissued an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research report on Monday, August 26th. Stifel Nicolaus boosted their price target on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Robert W. Baird reduced their price target on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and boosted their price target for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Trading Up 1.4 %

NASDAQ:ADSK opened at $267.73 on Tuesday. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The stock has a market cap of $57.70 billion, a price-to-earnings ratio of 57.95, a PEG ratio of 3.29 and a beta of 1.48. The business has a fifty day moving average of $248.76 and a 200-day moving average of $239.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

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

Insider Activity

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders sold a total of 38,762 shares of company stock valued at $10,046,302 over the last three months. Insiders own 0.14% of the company’s stock.

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.