HighTower Advisors LLC Raises Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

HighTower Advisors LLC lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,148 shares of the software company’s stock after purchasing an additional 1,050 shares during the period. HighTower Advisors LLC’s holdings in Autodesk were worth $17,424,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ADSK. Marshall Financial Group LLC boosted its position in Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares in the last quarter. Avitas Wealth Management LLC raised its holdings in Autodesk by 0.8% in the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after purchasing an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after buying an additional 44 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Autodesk by 28.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after buying an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in shares of Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after buying an additional 45 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 0.8 %

NASDAQ:ADSK opened at $307.71 on Friday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The business has a fifty day moving average price of $292.44 and a 200-day moving average price of $259.86. The firm has a market capitalization of $66.16 billion, a price-to-earnings ratio of 61.05, a price-to-earnings-growth ratio of 3.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for 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 business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. Sell-side analysts forecast that Autodesk, Inc. will post 5.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADSK shares. DA Davidson began coverage on shares of Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective on the stock. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. KeyCorp boosted their target price on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Oppenheimer raised their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets raised their price objective on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $316.68.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,936 shares of company stock valued at $549,333 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Company 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.