Atlantic Union Bankshares Corp Has $2.41 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Atlantic Union Bankshares Corp lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 16.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,268 shares of the software company’s stock after acquiring an additional 1,334 shares during the period. Atlantic Union Bankshares Corp’s holdings in Autodesk were worth $2,414,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Autodesk by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,038,677 shares of the software company’s stock worth $4,635,537,000 after buying an additional 310,081 shares during the last quarter. FIL Ltd grew its stake in shares of Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after acquiring an additional 479,559 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Autodesk by 12.9% in the 4th quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock worth $696,342,000 after acquiring an additional 327,144 shares in the last quarter. Norges Bank bought a new stake in shares of Autodesk in the 4th quarter worth $619,404,000. Finally, Morgan Stanley grew its stake in shares of Autodesk by 4.5% in the 3rd quarter. Morgan Stanley now owns 2,378,796 shares of the software company’s stock worth $492,197,000 after acquiring an additional 102,035 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 1.5 %

Shares of Autodesk stock opened at $247.45 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The stock has a market capitalization of $53.33 billion, a price-to-earnings ratio of 53.56, a P/E/G ratio of 3.25 and a beta of 1.43. The company’s 50 day moving average price is $221.13 and its 200-day moving average price is $239.01.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADSK shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Autodesk in a research note on Tuesday, June 18th. Stifel Nicolaus reduced their price target on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Rosenblatt Securities restated a “buy” rating and set a $290.00 price target on shares of Autodesk in a research report on Wednesday, June 12th. Piper Sandler restated a “neutral” rating and set a $239.00 price target on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price target for the company. in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $262.42.

Insider Activity at Autodesk

In other news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the transaction, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,138 shares of company stock worth $4,339,111 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.