Kestra Investment Management LLC Buys New Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Kestra Investment Management LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,348 shares of the software company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Olistico Wealth LLC purchased a new stake in shares of Autodesk in the second quarter worth about $26,000. Pacifica Partners Inc. lifted its holdings in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares during the period. Livelsberger Financial Advisory purchased a new stake in Autodesk in the 3rd quarter worth approximately $27,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $28,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at approximately $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now directly owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by company insiders.

Autodesk Trading Up 1.6 %

ADSK opened at $296.65 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The company’s 50 day simple moving average is $289.93 and its two-hundred day simple moving average is $258.15. The firm has a market capitalization of $63.78 billion, a price-to-earnings ratio of 58.86, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts expect that Autodesk, Inc. will post 5.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Autodesk in a research note on Monday. They set a “buy” rating and a $350.00 target price on the stock. Morgan Stanley lifted their price target on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Mizuho increased their price target on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Finally, Berenberg Bank raised their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

Autodesk 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.