SVB Wealth LLC Acquires 535 Shares of Autodesk, Inc. (NASDAQ:ADSK)

SVB Wealth LLC boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 21.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,043 shares of the software company’s stock after purchasing an additional 535 shares during the period. SVB Wealth LLC’s holdings in Autodesk were worth $741,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Crescent Grove Advisors LLC bought a new stake in Autodesk in the fourth quarter worth $212,000. Eads & Heald Wealth Management lifted its stake in Autodesk by 23.6% in the fourth quarter. Eads & Heald Wealth Management now owns 3,484 shares of the software company’s stock worth $848,000 after purchasing an additional 666 shares during the last quarter. LifePlan Financial LLC bought a new stake in Autodesk in the fourth quarter worth $551,000. VELA Investment Management LLC lifted its stake in Autodesk by 123.3% in the fourth quarter. VELA Investment Management LLC now owns 3,439 shares of the software company’s stock worth $837,000 after purchasing an additional 1,899 shares during the last quarter. Finally, Keel Point LLC lifted its stake in Autodesk by 7.6% in the fourth quarter. Keel Point LLC now owns 1,308 shares of the software company’s stock worth $318,000 after purchasing an additional 92 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred 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 owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The disclosure for this sale can be found here. Insiders have sold a total of 38,666 shares of company stock worth $10,090,055 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Autodesk Trading Up 2.8 %

NASDAQ:ADSK opened at $216.50 on Friday. The company’s 50 day moving average price is $251.86 and its 200-day moving average price is $234.97. Autodesk, Inc. has a 52 week low of $188.38 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 stock has a market cap of $46.31 billion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.95 and a beta of 1.43.

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

Wall Street Analyst Weigh In

ADSK has been the subject of several recent research reports. Piper Sandler boosted their price target 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. Mizuho increased their target price on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group increased their target price on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Piper Sandler Companies increased their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Citigroup increased their target price on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.44.

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.