Atlanta Consulting Group Advisors LLC Buys Shares of 3,217 Autodesk, Inc. (NASDAQ:ADSK)

Atlanta Consulting Group Advisors LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,217 shares of the software company’s stock, valued at approximately $886,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Jag Capital Management LLC bought a new position in Autodesk in the third quarter valued at $13,861,000. Cetera Investment Advisers boosted its holdings in shares of Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares in the last quarter. Forsta AP Fonden increased its position in shares of Autodesk by 7.9% during the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Autodesk by 32.0% during the 3rd quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after buying an additional 3,259 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in Autodesk by 8.2% in the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after buying an additional 49,500 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by corporate insiders.

Autodesk Trading Down 2.4 %

NASDAQ:ADSK opened at $299.15 on Friday. The company has a 50-day moving average price of $281.32 and a 200-day moving average price of $251.50. The stock has a market cap of $64.32 billion, a price-to-earnings ratio of 61.18, a P/E/G ratio of 4.00 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. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $315.73.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.12 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Rosenblatt Securities increased their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Piper Sandler boosted their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $320.00 price objective on shares of Autodesk in a research note on Monday, September 30th. Finally, Royal Bank of Canada lifted their price objective on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $296.20.

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.