Oppenheimer & Co. Inc. Has $2.27 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Oppenheimer & Co. Inc. boosted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,157 shares of the software company’s stock after purchasing an additional 1,260 shares during the period. Oppenheimer & Co. Inc.’s holdings in Autodesk were worth $2,266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADSK. Johnson Investment Counsel Inc. grew its position in shares of Autodesk by 5.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares in the last quarter. Beacon Financial Group grew its stake in shares of Autodesk by 4.1% in the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock worth $304,000 after purchasing an additional 49 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Autodesk by 2.8% in the 1st quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock worth $469,000 after buying an additional 49 shares during the last quarter. InTrack Investment Management Inc increased its position in Autodesk by 2.3% during the 2nd quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock valued at $542,000 after purchasing an additional 49 shares during the period. Finally, Pacifica Partners Inc. increased its position in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after buying an additional 50 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Autodesk Trading Up 1.4 %

ADSK stock opened at $267.73 on Tuesday. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The business’s 50-day moving average is $248.76 and its 200 day moving average is $239.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. 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.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADSK. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Mizuho increased their price objective 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. Royal Bank of Canada upped their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. 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. Finally, Morgan Stanley increased their price objective on shares of Autodesk from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Seven 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.17.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,762 shares of company stock valued at $10,046,302. Corporate 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.