795 Shares in Autodesk, Inc. (NASDAQ:ADSK) Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, HoldingsChannel reports. The fund bought 795 shares of the software company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new position in Autodesk in the third quarter valued at approximately $27,000. Concord Wealth Partners bought a new stake in Autodesk during the third quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk in the 3rd quarter valued at $28,000. Central Pacific Bank Trust Division bought a new position in shares of Autodesk in the 4th quarter valued at $37,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Autodesk by 3,625.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after buying an additional 145 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Price Performance

ADSK stock opened at $296.91 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $63.84 billion, a price-to-earnings ratio of 58.91, a PEG ratio of 3.44 and a beta of 1.42. The company’s fifty day simple moving average is $299.99 and its 200 day simple moving average is $276.11. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup raised their price objective on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Barclays lifted 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. Rosenblatt Securities increased their price objective on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Macquarie initiated coverage on shares of Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.05.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

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.