Equitable Trust Co. Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Equitable Trust Co. lifted its position in Autodesk, Inc. (NASDAQ:ADSK) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,691 shares of the software company’s stock after purchasing an additional 803 shares during the quarter. Equitable Trust Co.’s holdings in Autodesk were worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Soltis Investment Advisors LLC grew its holdings in shares of Autodesk by 438.2% in the fourth quarter. Soltis Investment Advisors LLC now owns 16,684 shares of the software company’s stock valued at $4,931,000 after purchasing an additional 13,584 shares during the period. Elevate Capital Advisors LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at about $1,087,000. Savant Capital LLC boosted its stake in Autodesk by 5.5% during the fourth quarter. Savant Capital LLC now owns 3,401 shares of the software company’s stock worth $1,005,000 after buying an additional 176 shares during the period. 17 Capital Partners LLC boosted its stake in Autodesk by 81.6% during the fourth quarter. 17 Capital Partners LLC now owns 3,250 shares of the software company’s stock worth $961,000 after buying an additional 1,460 shares during the period. Finally, Visionary Horizons LLC boosted its stake in Autodesk by 8.1% during the fourth quarter. Visionary Horizons LLC now owns 2,284 shares of the software company’s stock worth $675,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 1.3 %

Shares of NASDAQ:ADSK opened at $304.99 on Tuesday. The firm’s 50 day moving average price is $299.53 and its 200 day moving average price is $281.78. The stock has a market cap of $65.57 billion, a price-to-earnings ratio of 60.51, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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

Wall Street Analyst Weigh In

ADSK has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 target price for the company. Oppenheimer increased their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 target price for the company. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research note on Friday, November 29th. Finally, Stifel Nicolaus increased their target price on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $333.77.

Insider Buying and Selling at Autodesk

In other Autodesk 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 document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

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.