Truist Financial Corp Buys 26,244 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Truist Financial Corp increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,701 shares of the software company’s stock after purchasing an additional 26,244 shares during the quarter. Truist Financial Corp’s holdings in Autodesk were worth $54,954,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADSK. Bouvel Investment Partners LLC lifted its position in shares of Autodesk by 0.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after buying an additional 44 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Autodesk by 3.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after buying an additional 45 shares in the last quarter. Goodman Advisory Group LLC grew its stake in shares of Autodesk by 0.4% during the fourth quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp increased its holdings in shares of Autodesk by 0.5% during the fourth quarter. Curbstone Financial Management Corp now owns 9,760 shares of the software company’s stock worth $2,376,000 after buying an additional 50 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Autodesk by 11.4% in the 3rd quarter. Lindbrook Capital LLC now owns 527 shares of the software company’s stock valued at $109,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $217.93 on Friday. Autodesk, Inc. has a 52 week low of $188.38 and a 52 week high of $279.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a 50 day moving average price of $247.53 and a two-hundred day moving average price of $235.47. The firm has a market capitalization of $46.62 billion, a P/E ratio of 51.76, a P/E/G ratio of 2.97 and a beta of 1.43.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler upped their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Barclays raised their price objective on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Piper Sandler Companies boosted 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. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. Finally, Citigroup lifted their price target 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Insiders Place Their Bets

In related news, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the sale, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the sale, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 1,757 shares of the 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 $898,621.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,166 shares of company stock valued at $9,465,055. Insiders own 0.14% of the company’s stock.

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.