Moran Wealth Management LLC Purchases New Position in Autodesk, Inc. (NASDAQ:ADSK)

Moran Wealth Management LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 974 shares of the software company’s stock, valued at approximately $237,000.

Several other institutional investors also recently bought and sold shares of ADSK. First United Bank & Trust purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $34,000. Wambolt & Associates LLC increased its position in shares of Autodesk by 3.4% in the fourth quarter. Wambolt & Associates LLC now owns 1,555 shares of the software company’s stock valued at $379,000 after buying an additional 51 shares in the last quarter. Ieq Capital LLC increased its position in shares of Autodesk by 21.4% in the fourth quarter. Ieq Capital LLC now owns 17,185 shares of the software company’s stock valued at $4,184,000 after buying an additional 3,032 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $222,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Autodesk by 13.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,290 shares of the software company’s stock valued at $3,723,000 after buying an additional 1,790 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Deborah Clifford sold 5,553 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total value of $1,443,835.53. Following the completion of the transaction, the chief financial officer now owns 32,259 shares in the company, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,616 shares of company stock worth $9,319,448. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADSK has been the subject of several research reports. BMO Capital Markets boosted their price target on Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Barclays boosted their price target on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Oppenheimer boosted their price target on Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Piper Sandler Companies boosted 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. Finally, Berenberg Bank lowered Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Autodesk currently has a consensus rating of “Hold” and an average price target of $274.67.

Autodesk Trading Down 0.1 %

Shares of ADSK stock traded down $0.32 on Thursday, hitting $219.92. The stock had a trading volume of 110,804 shares, compared to its average volume of 1,452,921. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The firm has a market capitalization of $47.39 billion, a P/E ratio of 52.31, a P/E/G ratio of 2.98 and a beta of 1.45. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company’s 50 day moving average price is $236.90 and its 200-day moving average price is $236.34.

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