Summit Global Investments Purchases New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Summit Global Investments bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,052 shares of the software company’s stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADSK. Commonwealth Equity Services LLC grew its stake in shares of Autodesk by 8.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 26,477 shares of the software company’s stock worth $5,478,000 after acquiring an additional 2,092 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Autodesk by 0.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,516 shares of the software company’s stock valued at $11,901,000 after buying an additional 314 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Autodesk by 19.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,448 shares of the software company’s stock worth $300,000 after buying an additional 235 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Autodesk by 11.4% in the 3rd quarter. Lindbrook Capital LLC now owns 527 shares of the software company’s stock worth $109,000 after buying an additional 54 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Autodesk by 8.1% in the third quarter. Verdence Capital Advisors LLC now owns 3,583 shares of the software company’s stock valued at $741,000 after acquiring an additional 268 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADSK shares. Mizuho boosted their price objective on Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a research report on Wednesday, May 1st. Oppenheimer raised their price target on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Stifel Nicolaus restated a “buy” rating and issued a $316.00 target price on shares of Autodesk in a research note on Friday, April 12th. Finally, The Goldman Sachs Group raised their price target on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $274.67.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the sale, the director now owns 38,766 shares in the company, valued at $10,262,910.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’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 transaction of $145,607.00. Following the sale, 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 sold a total of 36,166 shares of company stock worth $9,465,055 in the last three months. 0.14% of the stock is owned by corporate insiders.

Autodesk Trading Up 0.7 %

Shares of ADSK opened at $216.70 on Tuesday. The firm has a fifty day simple moving average of $242.43 and a two-hundred day simple moving average of $235.76. Autodesk, Inc. has a twelve month low of $189.54 and a twelve month high of $279.53. The stock has a market capitalization of $46.69 billion, a P/E ratio of 51.47, a PEG ratio of 2.96 and a beta of 1.45. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $1.26 earnings per share. Autodesk’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current year.

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.