Davidson Capital Management Inc. Acquires 348 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Davidson Capital Management Inc. increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,369 shares of the software company’s stock after buying an additional 348 shares during the quarter. Autodesk comprises about 1.0% of Davidson Capital Management Inc.’s portfolio, making the stock its 17th largest holding. Davidson Capital Management Inc.’s holdings in Autodesk were worth $3,951,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. Jag Capital Management LLC bought a new stake in shares of Autodesk during the third quarter worth $13,861,000. LMR Partners LLP bought a new stake in Autodesk during the 3rd quarter valued at about $12,643,000. Starboard Value LP purchased a new stake in Autodesk in the 3rd quarter valued at about $510,189,000. China Universal Asset Management Co. Ltd. grew its stake in Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after acquiring an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after acquiring an additional 26,768 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of research reports. BMO Capital Markets boosted their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Bank of America upped their target price on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Robert W. Baird raised their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $333.77.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Autodesk Trading Down 1.7 %

Autodesk stock opened at $299.72 on Wednesday. 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 stock has a market cap of $64.44 billion, a PE ratio of 59.47, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. The stock has a 50-day moving average of $299.70 and a two-hundred day moving average of $282.22. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal 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.