Bouvel Investment Partners LLC Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Bouvel Investment Partners LLC grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,982 shares of the software company’s stock after buying an additional 220 shares during the quarter. Autodesk accounts for about 1.3% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 29th largest holding. Bouvel Investment Partners LLC’s holdings in Autodesk were worth $3,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Autodesk during the 4th quarter worth approximately $619,404,000. FIL Ltd lifted its stake in Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares during the last quarter. Cantillon Capital Management LLC lifted its stake in Autodesk by 35.1% during the fourth quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock worth $414,551,000 after purchasing an additional 442,005 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Autodesk by 48.0% in the fourth quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock worth $321,910,000 after purchasing an additional 429,071 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in Autodesk by 349.8% during the fourth quarter. Morningstar Investment Services LLC now owns 491,224 shares of the software company’s stock valued at $120,306,000 after purchasing an additional 382,026 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 1.3 %

NASDAQ ADSK opened at $246.77 on Friday. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a market capitalization of $53.18 billion, a P/E ratio of 52.74, a PEG ratio of 3.25 and a beta of 1.43. The company’s 50 day simple moving average is $219.85 and its 200 day simple moving average is $238.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on ADSK. StockNews.com lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Piper Sandler reaffirmed a “neutral” rating and set a $239.00 target price on shares of Autodesk in a report on Wednesday, June 12th. Robert W. Baird dropped their price target on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Morgan Stanley restated an “equal weight” rating and set a $255.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Finally, Citigroup increased their target price on Autodesk from $286.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $262.42.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $3,942,303.20. Following the transaction, 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 sold a total of 19,138 shares of company stock worth $4,339,111 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

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.