Beacon Investment Advisory Services Inc. Acquires Shares of 1,728 Autodesk, Inc. $ADSK

Beacon Investment Advisory Services Inc. acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,728 shares of the software company’s stock, valued at approximately $535,000.

A number of other large investors also recently modified their holdings of the company. Harrell Investment Partners LLC purchased a new stake in shares of Autodesk in the 2nd quarter valued at approximately $1,839,000. Regatta Capital Group LLC purchased a new stake in shares of Autodesk in the 2nd quarter valued at approximately $202,000. TD Private Client Wealth LLC increased its position in shares of Autodesk by 28.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 10,049 shares of the software company’s stock valued at $3,111,000 after purchasing an additional 2,198 shares during the last quarter. Mather Group LLC. increased its position in shares of Autodesk by 10.8% in the 2nd quarter. Mather Group LLC. now owns 2,883 shares of the software company’s stock valued at $892,000 after purchasing an additional 280 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Autodesk by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 96,761 shares of the software company’s stock valued at $29,954,000 after purchasing an additional 1,067 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Steven M. Blum sold 22,420 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the transaction, the executive vice president directly owned 13,099 shares of the company’s stock, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ruth Ann Keene sold 2,761 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president directly owned 80,255 shares in the company, valued at $25,288,350.50. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,830 shares of company stock valued at $13,123,341. Company insiders own 0.15% of the company’s stock.

Autodesk Trading Down 1.0%

Shares of Autodesk stock opened at $320.17 on Friday. Autodesk, Inc. has a 1 year low of $232.67 and a 1 year high of $329.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $68.20 billion, a P/E ratio of 66.29, a PEG ratio of 2.87 and a beta of 1.49. The company’s fifty day moving average is $304.95 and its two-hundred day moving average is $289.98.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Morgan Stanley increased their price objective on shares of Autodesk from $370.00 to $385.00 and gave the company an “overweight” rating in a research report on Sunday, August 31st. Citigroup increased their target price on shares of Autodesk from $376.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Robert W. Baird increased their target price on shares of Autodesk from $345.00 to $363.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Finally, Mizuho increased their target price on shares of Autodesk from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $356.83.

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.