Oppenheimer & Co. Inc. boosted its stake in Autodesk, Inc. (NASDAQ:ADSK – Free Report) 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.
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.
View Our Latest Stock Report on Autodesk
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.
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