Autodesk, Inc. (NASDAQ:ADSK) Stake Increased by Marietta Wealth Management LLC

Marietta Wealth Management LLC grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,517 shares of the software company’s stock after purchasing an additional 672 shares during the period. Marietta Wealth Management LLC’s holdings in Autodesk were worth $2,561,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADSK. AdvisorNet Financial Inc boosted its holdings in Autodesk by 67.1% during the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock valued at $35,000 after acquiring an additional 57 shares during the period. First Manhattan Co. lifted its stake in shares of Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after buying an additional 120 shares during the period. Carolinas Wealth Consulting LLC lifted its stake in shares of Autodesk by 140.6% in the first quarter. Carolinas Wealth Consulting LLC now owns 166 shares of the software company’s stock valued at $35,000 after buying an additional 97 shares during the period. Operose Advisors LLC bought a new stake in shares of Autodesk in the third quarter valued at about $35,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Autodesk in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ADSK. Rosenblatt Securities raised their price target on shares of Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Barclays raised their price target on shares of Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. KeyCorp raised their price objective on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Piper Sandler Companies raised their price objective on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, BMO Capital Markets raised their price objective on shares of Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $272.44.

Insider Buying and Selling

In other news, Director Stacy J. Smith sold 7,554 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $244.00, for a total transaction of $1,843,176.00. Following the sale, the director now owns 19,934 shares of the company’s stock, valued at approximately $4,863,896. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were 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 directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stacy J. Smith sold 7,554 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $244.00, for a total transaction of $1,843,176.00. Following the sale, the director now owns 19,934 shares in the company, valued at $4,863,896. The disclosure for this sale can be found here. Insiders sold a total of 46,220 shares of company stock worth $11,933,231 in the last three months. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

ADSK stock traded up $0.37 during midday trading on Tuesday, reaching $229.99. The company had a trading volume of 507,109 shares, compared to its average volume of 1,286,746. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. Autodesk, Inc. has a 1 year low of $188.38 and a 1 year high of $279.53. The company has a market capitalization of $49.19 billion, a P/E ratio of 54.54, a P/E/G ratio of 3.26 and a beta of 1.43. The firm has a 50-day moving average price of $255.26 and a 200-day moving average price of $235.08.

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

Autodesk 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.