Wallace Advisory Group LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Wallace Advisory Group LLC lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,780 shares of the software company’s stock after selling 54 shares during the period. Wallace Advisory Group LLC’s holdings in Autodesk were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADSK. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the third quarter worth $27,000. Concord Wealth Partners purchased a new stake in shares of Autodesk in the third quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Autodesk in the third quarter worth $28,000. Central Pacific Bank Trust Division purchased a new stake in shares of Autodesk in the fourth quarter worth $37,000. Finally, Wolff Wiese Magana LLC raised its position in Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ADSK shares. Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. UBS Group started coverage on Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Robert W. Baird raised their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research report on Friday, November 29th. Finally, Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.05.

Autodesk Stock Down 0.0 %

NASDAQ ADSK opened at $284.82 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $61.24 billion, a PE ratio of 56.51, a PEG ratio of 3.62 and a beta of 1.42. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The business’s 50-day moving average is $301.35 and its 200 day moving average is $274.58.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.33 earnings per share. Sell-side analysts forecast that Autodesk, Inc. will post 5.76 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.