HighVista Strategies LLC Makes New $2.07 Million Investment in Autodesk, Inc. (NASDAQ:ADSK)

HighVista Strategies LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,500 shares of the software company’s stock, valued at approximately $2,066,000.

Other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in shares of Autodesk during the third quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the 3rd quarter worth approximately $28,000. Concord Wealth Partners acquired a new stake in Autodesk in the 3rd quarter valued at $28,000. Olistico Wealth LLC bought a new stake in Autodesk in the second quarter valued at $26,000. Finally, Pacifica Partners Inc. raised its stake in Autodesk by 83.3% during 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.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADSK. UBS Group started coverage on shares of Autodesk in a research note on Monday. They issued a “buy” rating and a $350.00 target price on the stock. Citigroup raised their price objective on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus boosted their target price on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley increased their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

Autodesk Stock Up 1.6 %

Shares of ADSK stock opened at $296.65 on Tuesday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. 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 firm has a fifty day moving average of $289.93 and a 200-day moving average of $258.15. The company has a market capitalization of $63.78 billion, a price-to-earnings ratio of 58.86, a P/E/G ratio of 3.73 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, equities research analysts predict that Autodesk, Inc. will post 5.79 earnings per share for the current fiscal year.

Autodesk 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.