Legacy Financial Advisors Inc. Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Legacy Financial Advisors Inc. increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,602 shares of the software company’s stock after purchasing an additional 199 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Autodesk were worth $891,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ADSK. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk in the 4th quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Autodesk during the 1st quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk in the 1st quarter valued at about $25,000. LRI Investments LLC acquired a new position in shares of Autodesk during the first quarter worth about $26,000. Finally, Olistico Wealth LLC acquired a new stake in Autodesk in the second quarter valued at approximately $26,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Steven M. Blum sold 19,693 shares of the company’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 owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders sold a total of 38,762 shares of company stock valued at $10,046,302 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADSK. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Piper Sandler lifted their price target on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Rosenblatt Securities increased their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus lifted their target price on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Autodesk Stock Performance

Autodesk stock opened at $267.29 on Friday. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month 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. The company has a market cap of $57.60 billion, a price-to-earnings ratio of 57.85, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The stock’s 50-day moving average is $250.26 and its 200-day moving average is $239.61.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current year.

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.