B. Riley Wealth Advisors Inc. Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

B. Riley Wealth Advisors Inc. decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,022 shares of the software company’s stock after selling 178 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Autodesk were worth $1,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the third quarter valued at approximately $27,000. Concord Wealth Partners acquired a new stake in shares of Autodesk in the third quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new stake in Autodesk during the third quarter worth about $28,000. Stephens Consulting LLC acquired a new position in Autodesk during the second quarter worth about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Autodesk during the 2nd quarter worth approximately $36,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Down 0.7 %

NASDAQ:ADSK opened at $302.82 on Wednesday. The stock has a 50-day simple moving average of $298.07 and a 200 day simple moving average of $265.79. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The company has a market capitalization of $65.11 billion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 3.62 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.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating 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 business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were 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 $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,386 shares of company stock worth $403,308. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and upped their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Rosenblatt Securities increased their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. UBS Group began coverage on Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price on the stock. Macquarie initiated coverage on Autodesk in a report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target for the company. Finally, Citigroup boosted their target price on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given 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 $323.05.

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.