USA Financial Formulas Takes $1.30 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

USA Financial Formulas bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 4,380 shares of the software company’s stock, valued at approximately $1,295,000. Autodesk comprises approximately 0.2% of USA Financial Formulas’ portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jag Capital Management LLC purchased a new position in Autodesk in the third quarter valued at $13,861,000. LMR Partners LLP acquired a new stake in Autodesk in the 3rd quarter valued at about $12,643,000. Starboard Value LP purchased a new position in shares of Autodesk in the 3rd quarter valued at about $510,189,000. Erste Asset Management GmbH acquired a new position in shares of Autodesk during the third quarter worth about $20,087,000. Finally, Bank of Montreal Can increased its stake in shares of Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after buying an additional 73,363 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADSK has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Scotiabank began coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. 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 raised their price objective on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, Barclays increased their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $326.05.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Autodesk stock opened at $290.94 on Thursday. The firm has a fifty day moving average of $301.26 and a 200-day moving average of $274.86. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $62.55 billion, a P/E ratio of 57.73, a PEG ratio of 3.62 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results 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. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’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. As a group, analysts predict that Autodesk, Inc. will post 5.76 EPS for the current 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.