Beacon Financial Group Has $287,000 Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Beacon Financial Group trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.3% in the first quarter, Holdings Channel.com reports. The firm owned 1,097 shares of the software company’s stock after selling 74 shares during the quarter. Beacon Financial Group’s holdings in Autodesk were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Portside Wealth Group LLC boosted its stake in shares of Autodesk by 11.1% in the 1st quarter. Portside Wealth Group LLC now owns 4,498 shares of the software company’s stock valued at $1,178,000 after purchasing an additional 451 shares during the last quarter. Crestmont Private Wealth LLC boosted its stake in shares of Autodesk by 21.6% in the 1st quarter. Crestmont Private Wealth LLC now owns 1,839 shares of the software company’s stock valued at $481,000 after purchasing an additional 327 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of Autodesk in the 1st quarter valued at $2,591,000. Merit Financial Group LLC boosted its stake in shares of Autodesk by 304.1% in the 1st quarter. Merit Financial Group LLC now owns 6,983 shares of the software company’s stock valued at $1,828,000 after purchasing an additional 5,255 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in Autodesk by 114,760.0% during the first quarter. NBC Securities Inc. now owns 5,743 shares of the software company’s stock worth $1,503,000 after acquiring an additional 5,738 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on ADSK shares. Citigroup increased their target price on shares of Autodesk from $374.00 to $376.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. UBS Group increased their target price on shares of Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Scotiabank cut their target price on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. The Goldman Sachs Group increased their target price on shares of Autodesk from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Finally, DA Davidson set a $305.00 price objective on shares of Autodesk and gave the company a “neutral” rating in a research note on Friday, May 23rd. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.45.

Autodesk Stock Performance

NASDAQ ADSK opened at $297.86 on Friday. Autodesk, Inc. has a 52-week low of $205.86 and a 52-week high of $326.62. The company has a 50-day simple moving average of $277.69 and a 200 day simple moving average of $286.09. 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 company has a market capitalization of $63.74 billion, a PE ratio of 59.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.45.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 2,452 shares of Autodesk stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. This trade represents a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $267.10 per share, with a total value of $534,200.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $534,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate 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.