Bridges Investment Management Inc. Makes New $3.43 Million Investment in Autodesk, Inc. (NASDAQ:ADSK)

Bridges Investment Management Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,845 shares of the software company’s stock, valued at approximately $3,426,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADSK. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the 1st quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Autodesk during the 1st quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk during the fourth quarter worth $25,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the second quarter valued at $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Stifel Nicolaus lifted their price objective on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Bank of America increased their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Seven 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated 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 in the company, valued at $8,323,159.50. The disclosure for this sale can be found here. Insiders sold 38,762 shares of company stock valued at $10,046,302 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK stock opened at $269.76 on Friday. The company has a market capitalization of $58.14 billion, a P/E ratio of 58.39, a P/E/G ratio of 3.29 and a beta of 1.48. 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 $249.98 and its two-hundred day moving average is $239.56. The company has a current ratio of 0.64, a quick 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 earnings per share (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 analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. Analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

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.