Burke & Herbert Bank & Trust Co. Acquires New Position in Autodesk, Inc. (NASDAQ:ADSK)

Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,000 shares of the software company’s stock, valued at approximately $1,237,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the first quarter valued at about $25,000. Concord Wealth Partners bought a new position in shares of Autodesk in the first quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk in the fourth quarter worth approximately $25,000. Finally, Olistico Wealth LLC bought a new position in shares of Autodesk in the second quarter worth approximately $26,000. 90.24% of the stock is currently owned by institutional investors.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,381 shares of company stock worth $9,401,282 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ADSK. Morgan Stanley restated an “equal weight” rating and issued a $255.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Barclays decreased their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Piper Sandler restated a “neutral” rating and issued a $239.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Stifel Nicolaus decreased their price objective on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Autodesk in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $262.42.

Autodesk Trading Up 2.1 %

Shares of NASDAQ:ADSK traded up $5.04 during trading on Tuesday, reaching $244.61. 1,082,247 shares of the company traded hands, compared to its average volume of 1,683,527. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $52.72 billion, a price-to-earnings ratio of 52.95, a P/E/G ratio of 3.23 and a beta of 1.48. The business’s fifty day moving average is $238.86 and its 200-day moving average is $239.61. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.10. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, analysts forecast that Autodesk, Inc. will post 5.55 EPS 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.