Visionary Horizons LLC Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Visionary Horizons LLC raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,112 shares of the software company’s stock after purchasing an additional 234 shares during the period. Visionary Horizons LLC’s holdings in Autodesk were worth $582,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADSK. TD Asset Management Inc boosted its holdings in shares of Autodesk by 13.0% in the first quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock valued at $113,128,000 after acquiring an additional 50,027 shares during the period. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Autodesk by 10.9% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock valued at $13,097,000 after acquiring an additional 4,932 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after acquiring an additional 38,196 shares during the period. Forsta AP Fonden boosted its holdings in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in shares of Autodesk by 8.2% in the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after acquiring an additional 49,500 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Trading Up 1.0 %

Shares of ADSK stock opened at $286.57 on Friday. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $294.13. The stock has a market cap of $61.61 billion, a P/E ratio of 58.60, a P/E/G ratio of 3.67 and a beta of 1.48. The business has a fifty day simple moving average of $271.79 and a 200-day simple moving average of $245.24. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the sale, the director now owns 31,899 shares in the company, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,200,929 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup set a $325.00 price objective on Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus increased their price target on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Wells Fargo & Company started coverage on Autodesk in a report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price target for the company. BMO Capital Markets increased their price target on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Finally, Barclays increased their price target on Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Eight investment 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 has an average rating of “Moderate Buy” and an average target price of $292.95.

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.