Strategic Financial Concepts LLC Buys New Position in Autodesk, Inc. (NASDAQ:ADSK)

Strategic Financial Concepts LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,058 shares of the software company’s stock, valued at approximately $2,973,000.

Several other institutional investors also recently added to or reduced their stakes in ADSK. Livelsberger Financial Advisory bought a new position in Autodesk during the third quarter worth $27,000. Concord Wealth Partners acquired a new stake in Autodesk in the 3rd quarter worth $28,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the 3rd quarter worth about $28,000. Central Pacific Bank Trust Division acquired a new position in shares of Autodesk during the fourth quarter valued at about $37,000. Finally, Wolff Wiese Magana LLC raised its position in shares of 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 buying an additional 145 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Down 2.1 %

NASDAQ:ADSK opened at $301.15 on Monday. The company has a market cap of $64.75 billion, a price-to-earnings ratio of 59.75, a P/E/G ratio of 3.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s fifty day moving average price is $299.53 and its two-hundred day moving average price is $281.48. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADSK shares. Scotiabank assumed coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research report on Friday, November 29th. Citigroup lifted their price target on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Stifel Nicolaus increased their price objective on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $333.77.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

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.