Toroso Investments LLC Raises Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Toroso Investments LLC raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,188 shares of the software company’s stock after buying an additional 388 shares during the quarter. Toroso Investments LLC’s holdings in Autodesk were worth $1,716,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. CVA Family Office LLC grew its holdings in shares of Autodesk by 111.8% during the third quarter. CVA Family Office LLC now owns 341 shares of the software company’s stock worth $64,000 after buying an additional 180 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Autodesk by 41.5% during the third quarter. IHT Wealth Management LLC now owns 2,788 shares of the software company’s stock worth $521,000 after buying an additional 818 shares in the last quarter. Dash Acquisitions Inc. grew its holdings in shares of Autodesk by 6.6% during the third quarter. Dash Acquisitions Inc. now owns 1,883 shares of the software company’s stock worth $352,000 after buying an additional 116 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Autodesk during the third quarter worth $3,789,000. Finally, FourThought Financial LLC grew its holdings in shares of Autodesk by 4.1% during the third quarter. FourThought Financial LLC now owns 13,816 shares of the software company’s stock worth $2,581,000 after buying an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADSK. Moffett Nathanson dropped their price objective on shares of Autodesk to $177.00 in a report on Thursday, November 24th. Robert W. Baird dropped their price objective on shares of Autodesk from $255.00 to $247.00 in a report on Friday, February 24th. Bank of America upped their price objective on shares of Autodesk from $225.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 27th. KeyCorp upped their price objective on shares of Autodesk from $237.00 to $244.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Finally, Argus dropped their price objective on shares of Autodesk from $290.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.40.

Insider Buying and Selling

In related news, CFO Deborah Clifford sold 1,557 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $205.71, for a total transaction of $320,290.47. Following the sale, the chief financial officer now directly owns 19,609 shares in the company, valued at $4,033,767.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, Director Ayanna Howard sold 410 shares of the stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $184.49, for a total value of $75,640.90. Following the transaction, the director now directly owns 4,600 shares in the company, valued at $848,654. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Deborah Clifford sold 1,557 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $205.71, for a total transaction of $320,290.47. Following the completion of the transaction, the chief financial officer now owns 19,609 shares in the company, valued at $4,033,767.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,717 shares of company stock worth $746,462. Company insiders own 0.11% of the company’s stock.

Autodesk Stock Down 0.7 %

Shares of ADSK opened at $199.11 on Friday. The stock has a market capitalization of $42.77 billion, a PE ratio of 52.67, a P/E/G ratio of 1.84 and a beta of 1.51. Autodesk, Inc. has a 1 year low of $163.20 and a 1 year high of $235.01. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.73 and a current ratio of 0.84. The company’s 50-day simple moving average is $208.63 and its 200-day simple moving average is $202.37.

Autodesk (NASDAQ:ADSK – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The software company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.05. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Autodesk, Inc. will post 4.49 earnings per share for the current fiscal year.

Autodesk declared that its Board of Directors has approved a stock buyback plan on Tuesday, November 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the software company to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Autodesk Company Profile

(Get Rating)

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.