Sumitomo Mitsui DS Asset Management Company Ltd Purchases 285 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 19,481 shares of the software company’s stock after acquiring an additional 285 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Autodesk were worth $4,743,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. HB Wealth Management LLC grew its stake in Autodesk by 25.5% in the third quarter. HB Wealth Management LLC now owns 3,000 shares of the software company’s stock valued at $621,000 after purchasing an additional 610 shares in the last quarter. DAVENPORT & Co LLC raised its position in Autodesk by 0.6% during the third quarter. DAVENPORT & Co LLC now owns 181,672 shares of the software company’s stock worth $37,666,000 after acquiring an additional 1,063 shares in the last quarter. Founders Financial Securities LLC acquired a new stake in Autodesk in the third quarter valued at $206,000. Newbridge Financial Services Group Inc. grew its position in shares of Autodesk by 61.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 179 shares of the software company’s stock valued at $37,000 after acquiring an additional 68 shares during the period. Finally, Argus Investors Counsel Inc. raised its holdings in shares of Autodesk by 4.2% in the 3rd quarter. Argus Investors Counsel Inc. now owns 6,251 shares of the software company’s stock valued at $1,293,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler boosted their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Barclays raised their price target on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Rosenblatt Securities upped their price objective on shares of Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. Stifel Nicolaus restated a “buy” rating and set a $316.00 target price on shares of Autodesk in a research note on Friday, April 12th. Finally, KeyCorp upped their price target on shares of Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Stock Performance

NASDAQ ADSK opened at $217.13 on Tuesday. The firm’s 50 day simple moving average is $250.96 and its 200 day simple moving average is $235.48. The firm has a market capitalization of $46.44 billion, a price-to-earnings ratio of 51.57, a P/E/G ratio of 2.98 and a beta of 1.43. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 1 year low of $188.38 and a 1 year high of $279.53.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares of the company’s stock, valued at $9,285,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the sale, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,166 shares of company stock worth $9,465,055 over the last 90 days. Insiders own 0.14% of the company’s stock.

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.