Avanza Fonder AB Acquires New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Avanza Fonder AB bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,469 shares of the software company’s stock, valued at approximately $6,050,000.

A number of other hedge funds have also recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new stake in Autodesk during the third quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in Autodesk in the 3rd quarter valued at about $28,000. Concord Wealth Partners acquired a new position in Autodesk during the 3rd quarter worth approximately $28,000. Central Pacific Bank Trust Division acquired a new stake in Autodesk in the fourth quarter valued at approximately $37,000. Finally, Wolff Wiese Magana LLC increased 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 valued at $41,000 after purchasing an additional 145 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

NASDAQ ADSK opened at $295.23 on Friday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50-day moving average of $301.03 and a 200 day moving average of $274.97. The company has a market capitalization of $63.47 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 3.36 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADSK shares. Rosenblatt Securities upped their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Mizuho boosted their target price on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Macquarie initiated coverage on Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price for the company. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company upped their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $326.05.

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.