Power Wealth Management LLC Invests $767,000 in Autodesk, Inc. (NASDAQ:ADSK)

Power Wealth Management LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,152 shares of the software company’s stock, valued at approximately $767,000.

Several other hedge funds have also modified their holdings of ADSK. Commonwealth Equity Services LLC raised its holdings in Autodesk by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 26,477 shares of the software company’s stock valued at $5,478,000 after buying an additional 2,092 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Autodesk by 0.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,516 shares of the software company’s stock valued at $11,901,000 after buying an additional 314 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Autodesk by 19.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,448 shares of the software company’s stock valued at $300,000 after buying an additional 235 shares during the period. Independent Advisor Alliance increased its stake in Autodesk by 2.1% in the third quarter. Independent Advisor Alliance now owns 4,384 shares of the software company’s stock worth $907,000 after purchasing an additional 92 shares during the period. Finally, NorthRock Partners LLC purchased a new stake in Autodesk in the third quarter worth $222,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BMO Capital Markets increased their target price on Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Piper Sandler increased their target price on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $316.00 target price on shares of Autodesk in a research note on Friday, April 12th. Barclays increased their target price on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Piper Sandler Companies increased their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $274.67.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 1,628 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the sale, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,166 shares of company stock valued at $9,465,055. Company insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $5.24 during mid-day trading on Friday, reaching $215.19. The company’s stock had a trading volume of 1,197,081 shares, compared to its average volume of 2,034,404. The stock has a 50-day moving average of $243.24 and a two-hundred day moving average of $235.35. The stock has a market capitalization of $46.37 billion, a P/E ratio of 51.11, a P/E/G ratio of 2.96 and a beta of 1.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. Autodesk, Inc. has a 1-year low of $189.54 and a 1-year high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (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 during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Autodesk’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current fiscal 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.