Gallacher Capital Management LLC Acquires New Shares in Autodesk, Inc. (NASDAQ:ADSK)

Gallacher Capital Management LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 819 shares of the software company’s stock, valued at approximately $213,000.

Several other large investors also recently made changes to their positions in ADSK. Manchester Capital Management LLC lifted its position in Autodesk by 12.2% during the 4th quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock worth $378,000 after acquiring an additional 169 shares during the last quarter. TD Asset Management Inc boosted its stake in Autodesk by 153.0% during the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock valued at $93,589,000 after purchasing an additional 232,441 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Autodesk by 58.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after purchasing an additional 6,481 shares during the period. abrdn plc increased its position in 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 buying an additional 95,723 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Autodesk by 12.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock worth $17,991,000 after buying an additional 8,456 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 1.9 %

NASDAQ ADSK traded up $4.75 during trading on Friday, reaching $253.52. 451,949 shares of the stock traded hands, compared to its average volume of 1,747,113. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The firm has a market cap of $54.64 billion, a price-to-earnings ratio of 54.18, a price-to-earnings-growth ratio of 3.30 and a beta of 1.48. The stock’s 50-day moving average price is $226.87 and its 200 day moving average price is $239.55.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. Analysts predict that Autodesk, Inc. will post 5.55 EPS for the current year.

Insider Activity

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the sale, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The disclosure for this sale can be found here. Insiders sold 38,831 shares of company stock worth $9,261,951 over the last quarter. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ADSK shares. Barclays lowered their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Rosenblatt Securities restated a “buy” rating and set a $290.00 price objective on shares of Autodesk in a report on Wednesday, June 12th. Mizuho reduced their target price on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. BMO Capital Markets lowered their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. Finally, StockNews.com cut Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Hold” and an average target price of $262.42.

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.