Eagle Bay Advisors LLC Buys 508 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Eagle Bay Advisors LLC boosted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 457.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 619 shares of the software company’s stock after purchasing an additional 508 shares during the period. Eagle Bay Advisors LLC’s holdings in Autodesk were worth $153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk during the 4th quarter valued at $25,000. Concord Wealth Partners purchased a new position in Autodesk during the first quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new position in Autodesk during the first quarter valued at $25,000. LRI Investments LLC purchased a new position in Autodesk during the first quarter valued at $26,000. Finally, Olistico Wealth LLC purchased a new position in Autodesk during the second quarter valued at $26,000. Institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADSK. Citigroup lifted their price objective on shares of Autodesk from $295.00 to $316.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price target on shares of Autodesk in a research note on Tuesday, June 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price target on shares of Autodesk in a research note on Tuesday, June 18th. KeyCorp reaffirmed an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research note on Monday. Finally, BMO Capital Markets dropped their price target on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.17.

Autodesk Stock Up 0.3 %

Shares of Autodesk stock traded up $0.78 on Tuesday, reaching $256.99. The stock had a trading volume of 1,059,113 shares, compared to its average volume of 1,642,263. The company has a 50 day moving average price of $244.89 and a 200 day moving average price of $239.23. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The stock has a market capitalization of $55.38 billion, a P/E ratio of 55.63, a P/E/G ratio of 3.23 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current year.

Insider Transactions at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction 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 legal filing with the SEC, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,931 shares of company stock valued at $9,537,781 in the last 90 days. Insiders own 0.14% of the company’s stock.

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.