Triangle Securities Wealth Management Has $738,000 Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Triangle Securities Wealth Management raised its holdings in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 51.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,950 shares of the software company’s stock after buying an additional 1,350 shares during the quarter. Triangle Securities Wealth Management’s holdings in Autodesk were worth $738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADSK. Acadian Asset Management LLC grew its holdings in Autodesk by 351.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock valued at $775,000 after buying an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Autodesk by 71.7% in the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares during the period. Cetera Investment Advisers lifted its position in shares of Autodesk by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after acquiring an additional 164 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Autodesk in the 1st quarter worth approximately $218,000. Finally, Dakota Wealth Management lifted its position in shares of Autodesk by 18.0% in the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after acquiring an additional 292 shares during the period. Institutional investors and hedge funds own 87.89% of the company’s stock.

Autodesk Stock Down 0.7 %

NASDAQ ADSK opened at $199.11 on Friday. The stock has a fifty day moving average of $208.63 and a 200-day moving average of $202.37. The stock has a market capitalization of $42.76 billion, a P/E ratio of 52.67, a price-to-earnings-growth ratio of 1.81 and a beta of 1.51. Autodesk, Inc. has a 52 week low of $163.20 and a 52 week high of $235.01. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.73 and a current ratio of 0.84.

Autodesk (NASDAQ:ADSK – Get Rating) last released its earnings results on Thursday, February 23rd. The software company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.81 by $0.05. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. On average, equities research analysts forecast that Autodesk, Inc. will post 4.49 EPS for the current year.

Autodesk declared that its board has authorized a stock buyback program on Tuesday, November 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the software company to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada raised their price objective on Autodesk from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Credit Suisse Group reduced their price objective on Autodesk from $325.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Moffett Nathanson reduced their price objective on Autodesk to $177.00 in a research report on Thursday, November 24th. KeyCorp raised their target price on Autodesk from $237.00 to $244.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Finally, Barclays cut their target price on Autodesk from $257.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.40.

Insider Activity

In other news, CFO Deborah Clifford sold 1,557 shares of Autodesk stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $205.71, for a total value of $320,290.47. Following the completion of the sale, the chief financial officer now directly owns 19,609 shares of the company’s stock, valued at approximately $4,033,767.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Deborah Clifford sold 1,557 shares of Autodesk stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $205.71, for a total transaction of $320,290.47. Following the completion of the sale, the chief financial officer now directly owns 19,609 shares of the company’s stock, valued at $4,033,767.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ayanna Howard sold 410 shares of Autodesk stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $188.67, for a total value of $77,354.70. Following the sale, the director now directly owns 5,010 shares of the company’s stock, valued at $945,236.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,717 shares of company stock valued at $746,462. Company insiders own 0.11% of the company’s stock.

Autodesk Company Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.