DRW Securities LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

DRW Securities LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,235 shares of the software company’s stock, valued at approximately $555,000.

Several other hedge funds also recently bought and sold shares of ADSK. Price T Rowe Associates Inc. MD raised its holdings in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after buying an additional 4,563,668 shares during the period. Ninety One UK Ltd boosted its position in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the period. Van ECK Associates Corp grew its holdings in shares of Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares in the last quarter. FIL Ltd raised its position in Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its stake in Autodesk by 349.8% in the 4th quarter. Morningstar Investment Services LLC now owns 491,224 shares of the software company’s stock valued at $120,306,000 after acquiring an additional 382,026 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of ADSK opened at $268.46 on Tuesday. The company’s 50-day moving average is $250.56 and its 200-day moving average is $239.57. 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 firm has a market capitalization of $57.86 billion, a PE ratio of 58.11, a PEG ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53.

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

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk 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 transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,762 shares of company stock valued at $10,046,302. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADSK. BMO Capital Markets lifted their price objective on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Stifel Nicolaus increased their price objective on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Piper Sandler lifted their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $292.17.

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.