Autodesk, Inc. (NASDAQ:ADSK) Shares Purchased by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. boosted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 8.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,184 shares of the software company’s stock after buying an additional 660 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Autodesk were worth $2,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the 1st quarter valued at about $25,000. Concord Wealth Partners purchased a new position in Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Autodesk in the first quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the fourth quarter worth approximately $25,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the 2nd quarter worth approximately $26,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADSK has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Rosenblatt Securities upped their target price on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.17.

Insider Activity

In related news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders sold 57,275 shares of company stock worth $14,220,661 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $250.37 on Friday. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a 50-day moving average price of $247.13 and a 200 day moving average price of $239.10. The company has a market cap of $53.96 billion, a P/E ratio of 54.19, a PEG ratio of 3.45 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts predict that Autodesk, Inc. will post 5.55 earnings per share for the current 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.