Meritage Portfolio Management Buys 2,337 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Meritage Portfolio Management lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,264 shares of the software company’s stock after buying an additional 2,337 shares during the quarter. Meritage Portfolio Management’s holdings in Autodesk were worth $8,830,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. Mizuho upped their price objective on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of Autodesk in a report on Monday, April 1st. Piper Sandler Companies raised their target price on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. StockNews.com upgraded Autodesk from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Finally, Rosenblatt Securities upped their price objective on shares of Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Price Performance

NASDAQ ADSK traded up $2.04 on Friday, hitting $218.44. The company had a trading volume of 699,688 shares, compared to its average volume of 1,462,793. 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 company’s fifty day moving average price is $248.34 and its 200-day moving average price is $235.26. The company has a market capitalization of $46.72 billion, a PE ratio of 51.40, a PEG ratio of 2.96 and a beta of 1.43. Autodesk, Inc. has a 12-month low of $188.38 and a 12-month high of $279.53.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, analysts predict that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the firm’s 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now directly owns 38,766 shares in the company, valued at approximately $10,262,910.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is owned by corporate insiders.

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.