KPP Advisory Services LLC Invests $209,000 in Autodesk, Inc. (NASDAQ:ADSK)

KPP Advisory Services LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 759 shares of the software company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in Autodesk by 9.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock valued at $369,000 after acquiring an additional 122 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Autodesk by 1.8% in the first quarter. Blair William & Co. IL now owns 13,409 shares of the software company’s stock worth $3,492,000 after acquiring an additional 241 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Autodesk by 2.9% during the first quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after acquiring an additional 161 shares during the period. Ontario Teachers Pension Plan Board grew its stake in Autodesk by 67.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 9,273 shares of the software company’s stock worth $2,415,000 after purchasing an additional 3,743 shares in the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new stake in Autodesk during the 1st quarter worth about $250,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

ADSK has been the topic of a number of recent research reports. Rosenblatt Securities upped their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company began coverage on shares of Autodesk in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price objective on the stock. Berenberg Bank lifted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Piper Sandler increased their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.20.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $299.15 on Friday. The stock has a fifty day moving average price of $281.32 and a 200 day moving average price of $251.50. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $315.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $64.32 billion, a PE ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. Sell-side analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,232,213 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

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.