Paloma Partners Management Co Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Paloma Partners Management Co boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 244.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,500 shares of the software company’s stock after purchasing an additional 3,904 shares during the quarter. Paloma Partners Management Co’s holdings in Autodesk were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mather Group LLC. boosted its holdings in shares of Autodesk by 18.3% in the 2nd quarter. Mather Group LLC. now owns 2,214 shares of the software company’s stock valued at $577,000 after buying an additional 342 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Autodesk by 4.8% during the second quarter. Harbor Capital Advisors Inc. now owns 3,148 shares of the software company’s stock worth $779,000 after purchasing an additional 144 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of Autodesk during the 2nd quarter valued at $26,000. CWM LLC boosted its position in shares of Autodesk by 0.3% in the 2nd quarter. CWM LLC now owns 68,651 shares of the software company’s stock worth $16,988,000 after purchasing an additional 205 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in Autodesk by 11.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 3,704 shares of the software company’s stock worth $917,000 after buying an additional 368 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Up 1.6 %

Autodesk stock opened at $296.65 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a market capitalization of $63.78 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. The business has a 50 day simple moving average of $289.93 and a 200-day simple moving average of $258.15. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that Autodesk, Inc. will post 5.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADSK. Berenberg Bank raised their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Wells Fargo & Company boosted their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Piper Sandler boosted their price objective on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley raised their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,936 shares of company stock valued at $549,333. Corporate insiders own 0.14% of the company’s stock.

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.