Creative Planning Purchases 1,900 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Creative Planning lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 37,659 shares of the software company’s stock after buying an additional 1,900 shares during the period. Creative Planning’s holdings in Autodesk were worth $9,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in Autodesk in the fourth quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in Autodesk during the first quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in Autodesk during the first quarter valued at about $25,000. LRI Investments LLC purchased a new stake in Autodesk in the first quarter worth about $26,000. Finally, Olistico Wealth LLC bought a new position in shares of Autodesk in the second quarter worth about $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the firm’s 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 sale, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the completion of the sale, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,973 shares of company stock valued at $10,106,590. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

Autodesk stock opened at $267.47 on Wednesday. The stock has a market cap of $57.64 billion, a price-to-earnings ratio of 57.89, a price-to-earnings-growth ratio of 3.41 and a beta of 1.48. The firm has a 50-day moving average of $253.46 and a two-hundred day moving average of $240.15. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last issued its earnings results 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 business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.12 EPS. Autodesk’s revenue was up 11.9% on a year-over-year basis. On average, research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of recent analyst reports. Mizuho raised their target price on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. KeyCorp reiterated an “overweight” rating and issued a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. Piper Sandler boosted their price objective on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Berenberg Bank increased their target price on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Finally, Bank of America boosted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.