Power Wealth Management LLC Buys New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Power Wealth Management LLC bought a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,152 shares of the software company’s stock, valued at approximately $767,000.

Several other large investors have also recently bought and sold shares of ADSK. O Shaughnessy Asset Management LLC raised its stake in shares of Autodesk by 86.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after buying an additional 4,381 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at $330,000. abrdn plc grew its holdings in shares of Autodesk by 26.2% in the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after purchasing an additional 95,723 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Autodesk in the 4th quarter worth about $7,280,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Autodesk by 3,539.1% in the 4th quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock worth $55,370,000 after purchasing an additional 221,161 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the sale, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the sale, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,166 shares of company stock valued at $9,465,055. 0.14% of the stock is owned by company insiders.

Autodesk Stock Up 2.5 %

Shares of NASDAQ:ADSK traded up $5.24 during trading on Friday, hitting $215.19. 1,197,081 shares of the company’s stock traded hands, compared to its average volume of 2,034,404. The company has a 50-day moving average price of $243.24 and a 200-day moving average price of $235.35. Autodesk, Inc. has a 52 week low of $189.54 and a 52 week high of $279.53. 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 cap of $46.37 billion, a price-to-earnings ratio of 51.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $1.26 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. StockNews.com lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $316.00 target price on shares of Autodesk in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Autodesk in a report on Monday, April 1st. Finally, Mizuho increased their price objective on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $274.67.

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.