Independent Advisor Alliance Has $1.17 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Independent Advisor Alliance increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,233 shares of the software company’s stock after buying an additional 72 shares during the period. Independent Advisor Alliance’s holdings in Autodesk were worth $1,166,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADSK. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk in the 1st quarter valued at $25,000. LRI Investments LLC acquired a new position in Autodesk in the first quarter valued at about $26,000. Olistico Wealth LLC bought a new position in Autodesk during the second quarter worth about $26,000. Pacifica Partners Inc. boosted its holdings in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in shares of Autodesk during the 3rd quarter worth about $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

ADSK opened at $317.96 on Wednesday. The business’s 50-day simple moving average is $288.49 and its 200 day simple moving average is $256.59. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $68.36 billion, a PE ratio of 65.02, a PEG ratio of 4.10 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of analyst reports. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and increased their price target for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Rosenblatt Securities lifted their price target on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Mizuho set a $260.00 price objective on shares of Autodesk in a research report on Friday, October 18th. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Finally, Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average target price of $309.43.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,232,213 over the last quarter. 0.14% of the stock is currently 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.