Balentine LLC Has $400,000 Stake in Autodesk, Inc. (NASDAQ:ADSK)

Balentine LLC raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 53.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,641 shares of the software company’s stock after buying an additional 569 shares during the quarter. Balentine LLC’s holdings in Autodesk were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bfsg LLC bought a new position in shares of Autodesk during the fourth quarter worth about $27,000. Rakuten Securities Inc. bought a new position in shares of Autodesk during the fourth quarter worth about $28,000. Private Wealth Management Group LLC bought a new position in shares of Autodesk during the fourth quarter worth about $31,000. First United Bank & Trust bought a new position in shares of Autodesk during the fourth quarter worth about $34,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Autodesk by 67.1% during the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock worth $35,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. Citigroup increased their price objective on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Mizuho increased their price objective on Autodesk from $220.00 to $270.00 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 note on Monday, April 1st. Piper Sandler Companies raised their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Barclays raised their price target on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk has a consensus rating of “Hold” and a consensus target price of $273.83.

Autodesk Stock Performance

NASDAQ:ADSK opened at $219.20 on Wednesday. The stock has a market cap of $47.23 billion, a P/E ratio of 52.32, a PEG ratio of 3.04 and a beta of 1.45. The stock has a 50 day simple moving average of $234.03 and a 200 day simple moving average of $237.20. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53.

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

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk 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 directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,616 shares of company stock valued at $9,319,448. 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.