Point72 Hong Kong Ltd Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Point72 Hong Kong Ltd acquired a new position in Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,001 shares of the software company’s stock, valued at approximately $1,378,000.

Several other hedge funds also recently made changes to their positions in ADSK. Cetera Investment Advisers increased its holdings in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Autodesk by 7.4% in the 2nd quarter. DNB Asset Management AS now owns 35,832 shares of the software company’s stock valued at $8,867,000 after purchasing an additional 2,458 shares during the period. Mather Group LLC. boosted its position in shares of Autodesk by 18.3% in the 2nd quarter. Mather Group LLC. now owns 2,214 shares of the software company’s stock valued at $577,000 after purchasing an additional 342 shares during the period. First Bank & Trust increased its stake in Autodesk by 15.7% in the 2nd quarter. First Bank & Trust now owns 7,870 shares of the software company’s stock worth $1,947,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Autodesk by 4.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,148 shares of the software company’s stock worth $779,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 0.4 %

Shares of Autodesk stock opened at $291.90 on Monday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The stock has a market capitalization of $62.76 billion, a P/E ratio of 57.92, a PEG ratio of 3.73 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $289.93 and a two-hundred day moving average price of $258.15.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. Equities analysts expect that Autodesk, Inc. will post 5.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADSK. Bank of America lifted their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Morgan Stanley raised their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. BMO Capital Markets upped their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler raised their price objective on Autodesk from $257.00 to $311.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $315.10.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The shares were 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 approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,936 shares of company stock valued at $549,333. Insiders own 0.14% of the company’s stock.

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.