Legacy Financial Advisors Inc. Raises Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Legacy Financial Advisors Inc. boosted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 12.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,203 shares of the software company’s stock after buying an additional 351 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Autodesk were worth $780,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC grew its position in Autodesk by 86.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after acquiring an additional 4,381 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Autodesk during the 3rd quarter valued at $330,000. abrdn plc boosted its position in Autodesk by 26.2% during the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after purchasing an additional 95,723 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Autodesk in the 4th quarter valued at $7,280,000. Finally, International Assets Investment Management LLC raised its position in Autodesk by 3,539.1% in the fourth quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock valued at $55,370,000 after purchasing an additional 221,161 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the transaction, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,166 shares of company stock worth $9,465,055. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the subject of several analyst reports. Mizuho upped their target price on Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of Autodesk in a research report on Monday, April 1st. KeyCorp lifted their price target on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $316.00 price objective on shares of Autodesk in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $274.67.

Autodesk Stock Performance

ADSK stock traded up $5.24 during trading on Friday, hitting $215.19. 1,197,081 shares of the company’s stock traded hands, compared to its average volume of 2,034,404. The stock has a fifty day moving average price of $243.24 and a two-hundred day moving average price of $235.35. 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, Inc. has a 52 week low of $189.54 and a 52 week high of $279.53. The stock has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.11, a price-to-earnings-growth ratio of 2.89 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. As a group, equities analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current fiscal 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.