Rise Advisors LLC Grows Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Rise Advisors LLC increased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 271.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167 shares of the software company’s stock after buying an additional 122 shares during the quarter. Rise Advisors LLC’s holdings in Autodesk were worth $43,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ADSK. Tompkins Financial Corp purchased a new position in shares of Autodesk during the 1st quarter worth about $2,469,000. GAMMA Investing LLC boosted its position in shares of Autodesk by 30.7% during the first quarter. GAMMA Investing LLC now owns 1,999 shares of the software company’s stock valued at $521,000 after buying an additional 470 shares during the period. NBC Securities Inc. grew its stake in shares of Autodesk by 12.1% during the first quarter. NBC Securities Inc. now owns 5,577 shares of the software company’s stock valued at $1,452,000 after buying an additional 601 shares during the last quarter. CWM LLC raised its holdings in shares of Autodesk by 3.2% in the first quarter. CWM LLC now owns 68,446 shares of the software company’s stock worth $17,825,000 after buying an additional 2,113 shares during the period. Finally, Appleton Partners Inc. MA lifted its stake in shares of Autodesk by 159.7% during the 1st quarter. Appleton Partners Inc. MA now owns 24,496 shares of the software company’s stock worth $6,379,000 after acquiring an additional 15,062 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

ADSK stock opened at $243.51 on Friday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The firm has a market cap of $52.48 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 3.26 and a beta of 1.43. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50-day simple moving average of $218.70 and a two-hundred day simple moving average of $238.15.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Autodesk’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADSK. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Autodesk in a research report on Tuesday. Stifel Nicolaus reduced their price target on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Piper Sandler Companies lifted their price objective on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. BMO Capital Markets dropped their target price on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $290.00 target price on shares of Autodesk in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Autodesk currently has an average rating of “Hold” and a consensus target price of $262.42.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,501 shares of company stock worth $11,714,162 in the last ninety days. 0.14% of the stock is owned by insiders.

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.