WCG Wealth Advisors LLC Acquires New Shares in Autodesk, Inc. (NASDAQ:ADSK)

WCG Wealth Advisors LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,885 shares of the software company’s stock, valued at approximately $2,941,000.

Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the 1st quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in shares of Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC bought a new stake in shares of Autodesk during the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Autodesk in the fourth quarter worth $25,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk during the second quarter valued at about $26,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Down 1.0 %

NASDAQ ADSK opened at $264.21 on Thursday. The firm has a market capitalization of $56.94 billion, a PE ratio of 57.19, a P/E/G ratio of 3.29 and a beta of 1.48. The stock’s 50 day moving average is $249.56 and its 200 day moving average is $239.35. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Robert W. Baird reduced their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. Morgan Stanley lifted their target price on shares of Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Piper Sandler upped their price target 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. Finally, Rosenblatt Securities lifted their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of Autodesk 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 completion of the transaction, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction 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 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. Insiders have sold 38,762 shares of company stock valued at $10,046,302 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.