Phoenix Wealth Advisors Takes $215,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

Phoenix Wealth Advisors purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 919 shares of the software company’s stock, valued at approximately $215,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Autodesk by 0.4% in the third quarter. Vanguard Group Inc. now owns 18,728,596 shares of the software company’s stock valued at $3,875,134,000 after buying an additional 69,039 shares in the last quarter. State Street Corp grew its position in shares of Autodesk by 2.8% in the first quarter. State Street Corp now owns 8,623,556 shares of the software company’s stock valued at $1,795,073,000 after purchasing an additional 235,484 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Autodesk by 1.7% in the first quarter. Geode Capital Management LLC now owns 3,993,264 shares of the software company’s stock valued at $829,485,000 after purchasing an additional 66,959 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Autodesk by 1.2% in the third quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company’s stock valued at $624,471,000 after purchasing an additional 35,105 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Autodesk by 1.7% in the first quarter. Northern Trust Corp now owns 2,835,207 shares of the software company’s stock valued at $607,727,000 after purchasing an additional 47,952 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 7.0 %

ADSK stock traded down $16.08 during mid-day trading on Wednesday, hitting $212.16. 3,079,182 shares of the company were exchanged, compared to its average volume of 1,328,923. Autodesk, Inc. has a twelve month low of $188.38 and a twelve month high of $279.53. The firm has a fifty day simple moving average of $254.75 and a 200 day simple moving average of $235.23. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $45.38 billion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 3.16 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $1.26 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts forecast that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the sale, the director now directly owns 33,766 shares in the company, valued at approximately $9,285,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the sale, the director now owns 33,766 shares in the company, valued at $9,285,650. The disclosure for this sale can be found here. Insiders sold 46,220 shares of company stock valued at $11,933,231 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADSK shares. Oppenheimer increased their price target on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. The Goldman Sachs Group raised their target price on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. KeyCorp raised their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Piper Sandler Companies lifted their price target on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Citigroup lifted their price target on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

Autodesk Company 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.