Worth Asset Management LLC Takes $1.44 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Worth Asset Management LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the third quarter, HoldingsChannel reports. The fund acquired 5,223 shares of the software company’s stock, valued at approximately $1,439,000.

Other large investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk during the 1st quarter valued at about $25,000. Concord Wealth Partners bought a new stake in Autodesk during the 1st quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in Autodesk during the 1st quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Autodesk during the 4th quarter valued at approximately $25,000. Finally, Olistico Wealth LLC bought a new stake in Autodesk during the 2nd quarter valued at approximately $26,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the completion of the transaction, the director now directly owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now directly owns 31,016 shares of the company’s stock, valued at $7,857,283.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock worth $5,183,340. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADSK. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. KeyCorp reissued an “overweight” rating and set a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Oppenheimer lifted their price objective on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $290.47.

Autodesk Price Performance

ADSK opened at $277.71 on Friday. The business has a fifty day moving average of $257.64 and a 200 day moving average of $241.01. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market cap of $59.71 billion, a P/E ratio of 56.79, a PEG ratio of 3.52 and a beta of 1.48.

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, beating 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $1.12 EPS. Autodesk’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

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.