Frank Rimerman Advisors LLC Buys 3,615 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Frank Rimerman Advisors LLC boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 32,863.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,626 shares of the software company’s stock after acquiring an additional 3,615 shares during the period. Frank Rimerman Advisors LLC’s holdings in Autodesk were worth $897,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after buying an additional 363,565 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Autodesk by 263.6% in 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 purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd boosted its stake in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares during the period. FIL Ltd grew its holdings in Autodesk by 19.6% during 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 in the last quarter. Finally, Van ECK Associates Corp raised its position 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 valued at $406,554,000 after buying an additional 825,165 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Performance

Autodesk stock opened at $268.46 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 market capitalization of $57.86 billion, a PE ratio of 58.11, a P/E/G ratio of 3.29 and a beta of 1.48. The company has a 50 day moving average price of $250.56 and a 200-day moving average price of $239.57. 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 issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. As a group, equities analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ADSK. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. 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 research report on Friday, August 30th. Piper Sandler boosted their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and increased their price target for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Finally, Berenberg Bank upped their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.17.

Insider Activity at Autodesk

In other Autodesk news, 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 transaction of $4,923,250.00. Following the sale, the chief operating officer now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the sale, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The disclosure for this sale can be found here. Insiders have sold a total of 38,762 shares of company stock valued at $10,046,302 over the last ninety days. 0.14% of the stock is owned by company insiders.

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.