Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 46.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,029 shares of the software company’s stock after purchasing an additional 1,269 shares during the quarter. Summit Trail Advisors LLC’s holdings in Autodesk were worth $997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its position in Autodesk by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company’s stock worth $481,000 after purchasing an additional 103 shares during the period. Jump Financial LLC acquired a new position in Autodesk during the fourth quarter worth $287,000. EverSource Wealth Advisors LLC raised its position in Autodesk by 48.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 579 shares of the software company’s stock worth $141,000 after acquiring an additional 189 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Autodesk by 58.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after acquiring an additional 6,481 shares during the period. Finally, US Bancorp DE boosted its position in shares of Autodesk by 2.3% during the 4th quarter. US Bancorp DE now owns 50,443 shares of the software company’s stock worth $12,282,000 after purchasing an additional 1,117 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ADSK shares. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and increased their price target for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Royal Bank of Canada increased their target price on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. BMO Capital Markets lifted their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Rosenblatt Securities upped their price target on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Hsbc Global Res raised 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Stock Down 0.9 %

Shares of NASDAQ ADSK opened at $267.29 on Monday. The firm has a market cap of $57.60 billion, a P/E ratio of 57.85, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. 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, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The firm’s 50 day moving average price is $250.26 and its 200 day moving average price is $239.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for 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 was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total value of $139,331.50. Following the sale, the director now directly 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 through this hyperlink. In other Autodesk 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 transaction, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders sold a total of 38,762 shares of company stock valued at $10,046,302 in the last 90 days. 0.14% of the stock is currently owned by 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.