EP Wealth Advisors LLC Takes $213,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

EP Wealth Advisors LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,024 shares of the software company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Autodesk by 2.4% in the first quarter. BlackRock Inc. now owns 17,097,545 shares of the software company’s stock valued at $3,559,025,000 after purchasing an additional 394,268 shares during the period. State Street Corp raised its holdings in 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 acquiring an additional 235,484 shares in the last quarter. Ninety One UK Ltd raised its holdings in Autodesk by 1.8% in the first quarter. Ninety One UK Ltd now owns 4,406,367 shares of the software company’s stock valued at $917,229,000 after acquiring an additional 77,844 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 66,959 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Autodesk by 18.2% in the first quarter. Bank of America Corp DE now owns 3,967,076 shares of the software company’s stock valued at $825,786,000 after acquiring an additional 610,230 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Activity at Autodesk

In related news, Director Betsy Rafael sold 309 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $203.00, for a total value of $62,727.00. Following the completion of the transaction, the director now owns 4,781 shares of the company’s stock, valued at approximately $970,543. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Betsy Rafael sold 309 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $203.00, for a total value of $62,727.00. Following the completion of the transaction, the director now owns 4,781 shares of the company’s stock, valued at approximately $970,543. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Anagnost sold 22,318 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $221.90, for a total transaction of $4,952,364.20. Following the completion of the transaction, the chief executive officer now directly owns 99,327 shares of the company’s stock, valued at approximately $22,040,661.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,707 shares of company stock valued at $6,139,461. 0.14% of the stock is owned by insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $213.52 on Tuesday. The firm has a market capitalization of $45.64 billion, a P/E ratio of 52.85, a PEG ratio of 2.93 and a beta of 1.49. Autodesk, Inc. has a one year low of $179.61 and a one year high of $233.69. The company’s fifty day moving average is $211.64 and its two-hundred day moving average is $204.43. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.73 and a current ratio of 0.73.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Wednesday, August 23rd. The software company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.18. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Autodesk had a return on equity of 90.61% and a net margin of 16.77%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. Analysts forecast that Autodesk, Inc. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ADSK shares. BMO Capital Markets raised their target price on shares of Autodesk from $224.00 to $232.00 and gave the company a “market perform” rating in a report on Thursday, August 24th. Piper Sandler reissued an “overweight” rating and set a $240.00 price objective on shares of Autodesk in a report on Thursday, August 24th. Berenberg Bank cut their price objective on shares of Autodesk from $230.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, August 24th. Rosenblatt Securities raised their price objective on shares of Autodesk from $235.00 to $253.00 in a report on Thursday, August 24th. Finally, TheStreet cut shares of Autodesk from a “b-” rating to a “c+” rating in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.28.

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.