New Perspectives Inc Buys New Position in Autodesk, Inc. (NASDAQ:ADSK)

New Perspectives Inc purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,400 shares of the software company’s stock, valued at approximately $386,000. Autodesk makes up 0.2% of New Perspectives Inc’s portfolio, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADSK. Concord Wealth Partners acquired a new position in shares of Autodesk in the 1st quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the 1st quarter worth about $25,000. LRI Investments LLC purchased a new stake in Autodesk during the first quarter valued at about $26,000. Olistico Wealth LLC acquired a new position in shares of Autodesk in the second quarter worth about $26,000. Finally, Pacifica Partners Inc. increased its position in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $292.99 on Friday. The stock has a market capitalization of $63.14 billion, a P/E ratio of 63.42, a P/E/G ratio of 3.52 and a beta of 1.48. The business has a 50-day moving average of $264.10 and a two-hundred day moving average of $242.09. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $294.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

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, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares in the company, valued at $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares in the company, valued at $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,280 shares of company stock worth $5,200,929. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Citigroup set a $325.00 target price on Autodesk and gave the company a “buy” rating in a report on Friday. Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Rosenblatt Securities raised their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Barclays lifted their target price on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.95.

Autodesk Company 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.