PFG Investments LLC Boosts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

PFG Investments LLC lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 26.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,872 shares of the software company’s stock after buying an additional 393 shares during the quarter. PFG Investments LLC’s holdings in Autodesk were worth $488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth $25,000. Bfsg LLC purchased a new stake in Autodesk during the 4th quarter worth about $27,000. Rakuten Securities Inc. bought a new position in Autodesk in the 4th quarter worth about $28,000. Private Wealth Management Group LLC purchased a new position in Autodesk during the 4th quarter valued at about $31,000. Finally, First United Bank & Trust bought a new stake in shares of Autodesk during the fourth quarter valued at about $34,000. 90.24% of the stock is owned by institutional investors.

Autodesk Trading Down 0.5 %

Shares of Autodesk stock traded down $1.15 during trading on Monday, reaching $216.78. The company’s stock had a trading volume of 1,437,021 shares, compared to its average volume of 1,470,033. The company has a market cap of $46.37 billion, a price-to-earnings ratio of 51.49, a PEG ratio of 3.00 and a beta of 1.43. The firm’s 50-day moving average is $246.70 and its two-hundred day moving average is $235.66. Autodesk, Inc. has a 52-week low of $189.54 and a 52-week high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. On average, sell-side analysts anticipate that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ADSK shares. Oppenheimer raised their price objective on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. Barclays increased their price objective on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Piper Sandler Companies boosted their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Piper Sandler raised their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.44.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the transaction, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,166 shares of company stock worth $9,465,055 in the last ninety days. 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.