Pine Valley Investments Ltd Liability Co Raises Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Pine Valley Investments Ltd Liability Co raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,882 shares of the software company’s stock after buying an additional 188 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Autodesk were worth $518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADSK. Jag Capital Management LLC bought a new position in Autodesk in the third quarter valued at about $13,861,000. LMR Partners LLP bought a new position in shares of Autodesk in the 3rd quarter worth approximately $12,643,000. Starboard Value LP purchased a new position in shares of Autodesk in the third quarter worth approximately $510,189,000. Erste Asset Management GmbH bought a new stake in Autodesk during the third quarter valued at approximately $20,087,000. Finally, Bank of Montreal Can increased its holdings in Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after buying an additional 73,363 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,936 shares of company stock worth $549,333. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Autodesk from $257.00 to $311.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Macquarie initiated coverage on Autodesk in a research note on Thursday. They issued an “outperform” rating and a $380.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Citigroup raised their target price on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $323.05.

Autodesk Stock Down 1.8 %

NASDAQ ADSK opened at $303.77 on Friday. The stock has a 50 day moving average price of $296.76 and a 200-day moving average price of $263.57. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $65.31 billion, a P/E ratio of 60.27, a P/E/G ratio of 3.62 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned $1.33 earnings per share. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Autodesk, Inc. will post 5.76 EPS 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.