Venturi Wealth Management LLC Increases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Venturi Wealth Management LLC grew its stake in Autodesk, Inc. (NASDAQ:ADSK) by 103.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,848 shares of the software company’s stock after buying an additional 1,447 shares during the period. Venturi Wealth Management LLC’s holdings in Autodesk were worth $785,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in Autodesk in the first quarter valued at $25,000. LRI Investments LLC bought a new position in shares of Autodesk during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new stake in Autodesk in the third quarter worth approximately $28,000. Finally, Concord Wealth Partners bought a new position in Autodesk during the third quarter valued at approximately $28,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADSK. Stifel Nicolaus increased their target price on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Piper Sandler increased their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. KeyCorp restated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a report on Monday, August 26th. Finally, DA Davidson started coverage on shares of Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.95.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares in the company, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is owned by corporate insiders.

Autodesk Trading Up 2.7 %

NASDAQ:ADSK opened at $313.89 on Tuesday. The firm has a market capitalization of $67.49 billion, a P/E ratio of 64.19, a PEG ratio of 3.88 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a one year low of $195.32 and a one year high of $314.70. The company’s 50-day simple moving average is $275.95 and its 200 day simple moving average is $248.50.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, analysts forecast that Autodesk, Inc. will post 5.73 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.