Claro Advisors LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Claro Advisors LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,405 shares of the software company’s stock, valued at approximately $387,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Autodesk during the third quarter worth about $886,000. KPP Advisory Services LLC purchased a new stake in Autodesk in the 3rd quarter worth approximately $209,000. Natixis Advisors LLC raised its holdings in Autodesk by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 512,186 shares of the software company’s stock valued at $141,097,000 after acquiring an additional 9,305 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Autodesk by 60.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,443 shares of the software company’s stock worth $7,318,000 after purchasing an additional 9,940 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Autodesk by 26.0% during the third quarter. Empowered Funds LLC now owns 4,743 shares of the software company’s stock worth $1,307,000 after purchasing an additional 979 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The shares were 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 owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 in the last three months. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Robert W. Baird boosted their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company started coverage on shares of Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price target for the company. 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. Finally, Oppenheimer upped their price objective on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $301.19.

Autodesk Price Performance

Shares of ADSK stock opened at $302.05 on Tuesday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $315.73. The company has a market capitalization of $64.94 billion, a PE ratio of 61.77, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $282.25 and a 200-day simple moving average of $252.44.

Autodesk (NASDAQ:ADSK) last announced its earnings results 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 company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $1.12 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

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.