Brookstone Capital Management Acquires 121 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Brookstone Capital Management grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,389 shares of the software company’s stock after acquiring an additional 121 shares during the period. Brookstone Capital Management’s holdings in Autodesk were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ables Iannone Moore & Associates Inc. purchased a new position in Autodesk during the fourth quarter valued at $25,000. Bfsg LLC purchased a new position in shares of Autodesk during the 4th quarter valued at about $27,000. Rakuten Securities Inc. bought a new position in shares of Autodesk during the 4th quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new position in shares of Autodesk during the 4th quarter valued at approximately $31,000. Finally, First United Bank & Trust purchased a new stake in Autodesk in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Trading Down 0.7 %

Shares of NASDAQ ADSK opened at $245.83 on Tuesday. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. 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 company has a market cap of $52.98 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 3.31 and a beta of 1.48. The business’s 50 day moving average price is $221.13 and its 200-day moving average price is $239.12.

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

Insider Activity at Autodesk

In other Autodesk 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 directly owns 31,566 shares in the company, valued at approximately $7,418,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares in the company, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold 19,138 shares of company stock worth $4,338,701 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADSK. StockNews.com lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Robert W. Baird dropped their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Morgan Stanley reissued an “equal weight” rating and set a $255.00 price target on shares of Autodesk in a report on Wednesday, June 12th. Barclays cut their target price on Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $275.00 price target on shares of Autodesk in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $262.42.

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.