Atlantic Union Bankshares Corp Grows Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Atlantic Union Bankshares Corp raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,903 shares of the software company’s stock after acquiring an additional 1,489 shares during the period. Atlantic Union Bankshares Corp’s holdings in Autodesk were worth $4,381,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI purchased a new position in Autodesk in the 1st quarter valued at $251,000. LRI Investments LLC purchased a new stake in shares of Autodesk in the first quarter valued at about $26,000. Cetera Investment Advisers increased its stake in shares of Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after acquiring an additional 38,196 shares during the period. Cetera Advisors LLC raised its holdings in Autodesk by 567.2% during the first quarter. Cetera Advisors LLC now owns 20,235 shares of the software company’s stock worth $5,269,000 after purchasing an additional 17,202 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Autodesk by 27.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 449,470 shares of the software company’s stock valued at $116,936,000 after purchasing an additional 96,703 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup increased their target price on Autodesk from $325.00 to $358.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Barclays increased their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Rosenblatt Securities boosted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.95.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,936 shares of company stock worth $549,333 in the last three months. Company insiders own 0.14% of the company’s stock.

Autodesk Trading Down 8.6 %

Shares of ADSK opened at $290.64 on Friday. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The stock has a fifty day moving average of $289.44 and a two-hundred day moving average of $257.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. The company has a market capitalization of $62.49 billion, a PE ratio of 57.67, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Autodesk, Inc. will post 5.74 EPS for the current year.

Autodesk Company 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.