Brookstone Capital Management Has $8.66 Million Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Brookstone Capital Management raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1,058.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,296 shares of the software company’s stock after buying an additional 26,768 shares during the quarter. Brookstone Capital Management’s holdings in Autodesk were worth $8,659,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Marshall Financial Group LLC lifted its holdings in shares of Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after buying an additional 35 shares during the last quarter. Avitas Wealth Management LLC raised its stake in shares of Autodesk by 0.8% in the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after purchasing an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Autodesk by 1.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after purchasing an additional 44 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Autodesk by 28.9% in the third quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after purchasing an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

Autodesk stock opened at $284.82 on Tuesday. The business’s 50-day simple moving average is $301.35 and its 200 day simple moving average is $274.58. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of 56.51, a P/E/G ratio of 3.62 and a beta of 1.42. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 earnings per share. As a group, research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on ADSK shares. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price for the company. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Morgan Stanley increased their price objective on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, UBS Group initiated coverage on Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.05.

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.