Fairscale Capital LLC Purchases New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Fairscale Capital LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 717 shares of the software company’s stock, valued at approximately $182,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADSK. Gilbert & Cook Inc. raised its holdings in Autodesk by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company’s stock valued at $481,000 after buying an additional 103 shares during the last quarter. Jump Financial LLC bought a new stake in Autodesk during the 4th quarter valued at $287,000. EverSource Wealth Advisors LLC raised its holdings in Autodesk by 48.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 579 shares of the software company’s stock valued at $141,000 after buying an additional 189 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Autodesk by 58.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after buying an additional 6,481 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Autodesk by 2.3% during the 4th quarter. US Bancorp DE now owns 50,443 shares of the software company’s stock valued at $12,282,000 after buying an additional 1,117 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,762 shares of company stock worth $10,046,302. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK stock opened at $267.29 on Friday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company’s 50-day moving average is $250.26 and its 200 day moving average is $239.55. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. Sell-side analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on ADSK shares. Berenberg Bank boosted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Oppenheimer boosted their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Piper Sandler boosted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Robert W. Baird reduced their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Finally, HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.17.

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.