Sagace Wealth Management LLC Acquires New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sagace Wealth Management LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 743 shares of the software company’s stock, valued at approximately $220,000.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. raised its position in Autodesk by 1,473.8% in the second quarter. Federated Hermes Inc. now owns 16,163 shares of the software company’s stock worth $4,000,000 after acquiring an additional 15,136 shares during the period. J.W. Cole Advisors Inc. bought a new stake in Autodesk during the second quarter valued at about $220,000. Dimensional Fund Advisors LP raised its stake in shares of Autodesk by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,001,485 shares of the software company’s stock worth $247,802,000 after buying an additional 188,140 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of Autodesk by 81.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,748 shares of the software company’s stock valued at $433,000 after buying an additional 786 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Autodesk during the 2nd quarter valued at approximately $1,554,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Up 1.4 %

NASDAQ:ADSK opened at $290.94 on Thursday. The stock has a fifty day simple moving average of $301.26 and a 200-day simple moving average of $274.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $62.55 billion, a price-to-earnings ratio of 57.73, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company earned $1.33 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Wells Fargo & Company raised their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Mizuho upped their price objective on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Morgan Stanley lifted their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $326.05.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

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.