Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 61.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,022 shares of the software company’s stock after purchasing an additional 773 shares during the period. Axxcess Wealth Management LLC’s holdings in Autodesk were worth $527,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk in the 4th quarter valued at $25,000. Concord Wealth Partners acquired a new position in Autodesk in the 1st quarter valued at $25,000. Bfsg LLC acquired a new position in Autodesk in the 4th quarter valued at $27,000. Rakuten Securities Inc. acquired a new position in Autodesk in the 4th quarter valued at $28,000. Finally, Eagle Bay Advisors LLC grew its stake in shares of Autodesk by 217.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock valued at $29,000 after buying an additional 76 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ADSK shares. Barclays lowered their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Morgan Stanley reissued an “equal weight” rating and set a $255.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Rosenblatt Securities reissued a “buy” rating and set a $290.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. Finally, Robert W. Baird lowered their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has an average rating of “Hold” and an average target price of $262.42.

Insider Activity

In other news, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the sale, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,381 shares of company stock worth $9,401,282. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Stock Down 0.6 %

ADSK stock traded down $1.37 during trading on Friday, reaching $240.86. The stock had a trading volume of 1,267,132 shares, compared to its average volume of 1,220,368. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $51.91 billion, a P/E ratio of 52.13, a PEG ratio of 3.24 and a beta of 1.48. The firm has a fifty day moving average price of $233.25 and a 200 day moving average price of $240.17.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Autodesk, Inc. will post 5.55 earnings per share for the current year.

About Autodesk

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.