Axxcess Wealth Management LLC Buys 773 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Axxcess Wealth Management LLC raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 61.9% in the first quarter, Holdings Channel reports. The fund owned 2,022 shares of the software company’s stock after purchasing an additional 773 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Autodesk were worth $527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. EP Wealth Advisors LLC bought a new position in shares of Autodesk in the first quarter worth about $202,000. CreativeOne Wealth LLC bought a new position in shares of Autodesk in the first quarter worth about $414,000. Forte Capital LLC ADV lifted its holdings in shares of Autodesk by 1.0% in the first quarter. Forte Capital LLC ADV now owns 43,152 shares of the software company’s stock worth $11,238,000 after acquiring an additional 419 shares during the last quarter. LGT Group Foundation bought a new position in Autodesk in the 1st quarter valued at approximately $92,000. Finally, Crewe Advisors LLC bought a new position in Autodesk in the 1st quarter valued at approximately $109,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Down 0.6 %

ADSK stock traded down $1.37 during midday trading on Friday, reaching $240.86. 1,267,132 shares of the company’s stock traded hands, compared to its average volume of 1,220,368. The company has a market cap of $51.91 billion, a price-to-earnings ratio of 52.13, a P/E/G ratio of 3.24 and a beta of 1.48. The firm’s fifty day moving average price is $233.25 and its 200-day moving average price is $240.17. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADSK shares. Mizuho dropped their price objective on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. KeyCorp dropped their price target on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Bank of America dropped their price target on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Morgan Stanley restated an “equal weight” rating and issued a $255.00 price target on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $275.00 price target on shares of Autodesk in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $262.42.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the sale, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now directly owns 31,016 shares in the company, valued at $7,857,283.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,381 shares of company stock worth $9,401,282. 0.14% of the stock is 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.