Fortem Financial Group LLC Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Fortem Financial Group LLC lifted its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,737 shares of the software company’s stock after acquiring an additional 81 shares during the quarter. Autodesk makes up approximately 0.9% of Fortem Financial Group LLC’s portfolio, making the stock its 29th largest position. Fortem Financial Group LLC’s holdings in Autodesk were worth $2,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Starboard Value LP bought a new position in Autodesk in the 3rd quarter valued at $510,189,000. Point72 Asset Management L.P. grew its position in Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after buying an additional 662,339 shares during the period. International Assets Investment Management LLC increased its holdings in Autodesk by 58,375.5% during the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after buying an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after acquiring an additional 452,728 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Autodesk by 818.3% during the 2nd quarter. Marshall Wace LLP now owns 458,337 shares of the software company’s stock valued at $113,415,000 after acquiring an additional 408,424 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of ADSK stock traded down $2.01 during trading hours on Monday, hitting $292.05. 823,969 shares of the company’s stock were exchanged, compared to its average volume of 975,849. The company has a market capitalization of $62.79 billion, a PE ratio of 57.95, a PEG ratio of 3.62 and a beta of 1.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The business’s 50 day simple moving average is $300.90 and its 200-day simple moving average is $272.53.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Oppenheimer upped their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research report on Friday, November 29th. DA Davidson assumed coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective for the company. Piper Sandler raised their price target on Autodesk from $257.00 to $311.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Finally, Macquarie assumed coverage on Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $323.95.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at $8,787,262.69. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Autodesk Company 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.