Essex Financial Services Inc. Takes $220,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

Essex Financial Services Inc. bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 902 shares of the software company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its position in shares of Autodesk by 86.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after acquiring an additional 4,381 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at $330,000. abrdn plc increased its stake in Autodesk by 26.2% in the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after purchasing an additional 95,723 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Autodesk during the 4th quarter worth about $7,280,000. Finally, International Assets Investment Management LLC lifted its stake in Autodesk by 3,539.1% during the fourth quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock valued at $55,370,000 after buying an additional 221,161 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADSK has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. KeyCorp increased their target price on Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Piper Sandler lifted their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Oppenheimer upped their price target on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group raised their price objective on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $274.67.

Autodesk Stock Up 2.5 %

ADSK stock opened at $215.19 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The firm has a market cap of $46.37 billion, a PE ratio of 51.11, a PEG ratio of 2.89 and a beta of 1.45. Autodesk, Inc. has a 1 year low of $189.54 and a 1 year high of $279.53. The company has a fifty day simple moving average of $243.24 and a 200 day simple moving average of $235.35.

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

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the sale, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Rebecca Pearce sold 1,628 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the sale, the executive vice president now owns 13,620 shares in the company, valued at $3,425,974.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the transaction, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. 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.

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.