Milestone Asset Management LLC Buys New Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Milestone Asset Management LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, Holdings Channel reports. The fund purchased 743 shares of the software company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Algert Global LLC purchased a new position in shares of Autodesk during the second quarter worth $579,000. NewEdge Advisors LLC raised its stake in shares of Autodesk by 4.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,023 shares of the software company’s stock valued at $3,470,000 after buying an additional 590 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Autodesk by 202.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,353 shares of the software company’s stock valued at $582,000 after buying an additional 1,576 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of Autodesk by 96.8% in the second quarter. Coronation Fund Managers Ltd. now owns 9,785 shares of the software company’s stock worth $2,421,000 after buying an additional 4,813 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Autodesk during the second quarter worth about $11,499,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ADSK shares. Oppenheimer boosted their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. UBS Group started coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective for the company. Rosenblatt Securities increased their target price on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and raised their target price for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $331.50.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

ADSK opened at $309.95 on Friday. The firm has a market capitalization of $66.64 billion, a PE ratio of 61.50, a PEG ratio of 3.55 and a beta of 1.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The firm’s 50-day moving average price is $299.38 and its 200 day moving average price is $278.54.

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 analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business earned $1.33 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Autodesk 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.