Ashton Thomas Private Wealth LLC Lowers Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Ashton Thomas Private Wealth LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,166 shares of the software company’s stock after selling 75 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Autodesk were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADSK. Price T Rowe Associates Inc. MD raised its holdings in shares of Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. Ninety One UK Ltd raised its holdings in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the period. Van ECK Associates Corp lifted its position in Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after buying an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after buying an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Rosenblatt Securities increased their target price on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. BMO Capital Markets upped their price target on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Finally, Berenberg Bank lifted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Trading Up 1.1 %

NASDAQ:ADSK opened at $313.14 on Thursday. The company has a market cap of $67.33 billion, a PE ratio of 64.04, a P/E/G ratio of 3.93 and a beta of 1.47. The business’s 50 day moving average is $278.10 and its two-hundred day moving average is $249.83. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $315.73.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’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 owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,730 shares of company stock valued at $5,064,430 in the last quarter. Insiders own 0.14% of the company’s stock.

About Autodesk

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.