Sequoia Financial Advisors LLC Purchases 419 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sequoia Financial Advisors LLC lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,464 shares of the software company’s stock after buying an additional 419 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Autodesk were worth $954,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its stake in Autodesk by 97.4% in the first quarter. Sunbelt Securities Inc. now owns 987 shares of the software company’s stock valued at $257,000 after buying an additional 487 shares during the last quarter. Brookstone Capital Management raised its stake in Autodesk by 9.5% in the first quarter. Brookstone Capital Management now owns 1,389 shares of the software company’s stock valued at $362,000 after buying an additional 121 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Autodesk in the first quarter valued at about $212,000. Grimes & Company Inc. purchased a new stake in Autodesk in the first quarter valued at about $203,000. Finally, Founders Financial Securities LLC raised its stake in Autodesk by 24.9% in the first quarter. Founders Financial Securities LLC now owns 1,308 shares of the software company’s stock valued at $341,000 after buying an additional 261 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADSK shares. Rosenblatt Securities raised their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Piper Sandler raised their price objective on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. BMO Capital Markets raised their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Finally, HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.95.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’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 completion of the transaction, the director now owns 30,799 shares in the company, valued at $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the sale, the director now directly owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,200,929 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Up 0.1 %

Autodesk stock opened at $286.04 on Friday. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $294.13. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a 50 day moving average price of $267.49 and a 200 day moving average price of $243.28. The company has a market capitalization of $61.64 billion, a PE ratio of 62.00, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. Research analysts expect that Autodesk, Inc. will post 5.73 earnings per share 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.