Perigon Wealth Management LLC Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Perigon Wealth Management LLC raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,921 shares of the software company’s stock after acquiring an additional 129 shares during the quarter. Perigon Wealth Management LLC’s holdings in Autodesk were worth $847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. Livelsberger Financial Advisory acquired a new position in Autodesk in the third quarter valued at approximately $27,000. Concord Wealth Partners purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at $28,000. Central Pacific Bank Trust Division purchased a new position in shares of Autodesk in the 4th quarter valued at $37,000. Finally, Wolff Wiese Magana LLC raised its stake in Autodesk by 3,625.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADSK. Rosenblatt Securities upped their target price on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Oppenheimer raised their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Macquarie initiated coverage on shares of Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective on the stock. Finally, HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research note on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.50.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Autodesk Trading Up 1.9 %

NASDAQ:ADSK opened at $309.95 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The firm has a market capitalization of $66.64 billion, a price-to-earnings ratio of 61.50, a PEG ratio of 3.55 and a beta of 1.42. The business’s 50-day moving average price is $299.38 and its two-hundred day moving average price is $278.54.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. On average, equities analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current 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.