Kirtland Hills Capital Management LLC Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Kirtland Hills Capital Management LLC increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 22.9% in the third quarter, Holdings Channel reports. The fund owned 1,272 shares of the software company’s stock after purchasing an additional 237 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Autodesk were worth $350,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

ADSK has been the topic of several research analyst reports. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Wells Fargo & Company assumed coverage on shares of Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price objective for the company. Royal Bank of Canada boosted their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Berenberg Bank raised their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Finally, Barclays boosted their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $301.19.

Autodesk Stock Up 1.0 %

Shares of NASDAQ:ADSK opened at $305.20 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $65.62 billion, a P/E ratio of 62.41, a P/E/G ratio of 3.82 and a beta of 1.47. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $315.73. The stock’s fifty day simple moving average is $283.20 and its 200-day simple moving average is $253.07.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by insiders.

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.