InTrack Investment Management Inc Boosts Position in Autodesk, Inc. (NASDAQ:ADSK)

InTrack Investment Management Inc boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,264 shares of the software company’s stock after purchasing an additional 75 shares during the quarter. InTrack Investment Management Inc’s holdings in Autodesk were worth $624,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk in the 4th quarter valued at about $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk in the first quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk during the first quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Autodesk in the 1st quarter valued at $26,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk in the 2nd quarter valued at $26,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Trading Up 1.4 %

ADSK opened at $281.67 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $282.54. The firm has a 50 day simple moving average of $258.65 and a 200 day simple moving average of $241.01. The company has a market cap of $60.70 billion, a price-to-earnings ratio of 60.97, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.12 EPS. Autodesk’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 0.00 % 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 $5,183,340 over the last 90 days. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Piper Sandler upped their price objective on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Citigroup lifted their target price on Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. BMO Capital Markets increased their price objective on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Finally, Oppenheimer boosted their price target on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

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.