1,240 Shares in Autodesk, Inc. (NASDAQ:ADSK) Purchased by Merit Financial Group LLC

Merit Financial Group LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,240 shares of the software company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in 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 buying an additional 2,092 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Autodesk by 19.4% in the third quarter. Stratos Wealth Partners LTD. now owns 1,448 shares of the software company’s stock valued at $300,000 after acquiring an additional 235 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Autodesk in the third quarter worth approximately $216,000. NBT Bank N A NY purchased a new stake in shares of Autodesk during the third quarter worth approximately $299,000. Finally, Park Avenue Securities LLC acquired a new position in Autodesk in the 3rd quarter valued at $609,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADSK. Piper Sandler Companies lifted their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Oppenheimer upped their price objective on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Piper Sandler raised their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. StockNews.com cut Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Barclays increased 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Autodesk currently has a consensus rating of “Hold” and an average target price of $274.67.

Insider Transactions at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the sale, the chief financial officer now directly owns 32,259 shares of the company’s stock, valued at $8,387,662.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,166 shares of company stock valued at $9,465,055. 0.14% of the stock is currently owned by company insiders.

Autodesk Trading Down 0.3 %

ADSK opened at $213.95 on Thursday. Autodesk, Inc. has a 52 week low of $190.95 and a 52 week high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The business has a fifty day simple moving average of $241.58 and a 200-day simple moving average of $235.84. The firm has a market cap of $46.10 billion, a P/E ratio of 50.82, a P/E/G ratio of 2.96 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $1.26 EPS. Autodesk’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Autodesk, Inc. will post 5.38 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.