HBK Sorce Advisory LLC Increases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

HBK Sorce Advisory LLC increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,935 shares of the software company’s stock after buying an additional 202 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Autodesk were worth $726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk in the 4th quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in Autodesk in the 1st quarter worth $25,000. New Covenant Trust Company N.A. bought a new stake in Autodesk in the first quarter worth $25,000. LRI Investments LLC purchased a new stake in Autodesk during the first quarter valued at about $26,000. Finally, Olistico Wealth LLC bought a new position in shares of Autodesk during the second quarter valued at about $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Stifel Nicolaus raised their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Mizuho upped their price target on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Bank of America raised their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $292.17.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the sale, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The disclosure for this sale can be found here. Insiders have sold a total of 38,762 shares of company stock valued at $10,029,527 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Performance

Shares of Autodesk stock opened at $263.96 on Friday. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The firm has a market capitalization of $56.75 billion, a P/E ratio of 57.13, a P/E/G ratio of 3.29 and a beta of 1.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $248.36 and a two-hundred day simple moving average of $239.33.

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, beating analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. On average, equities analysts forecast that Autodesk, Inc. will post 5.73 earnings per share 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.