Triasima Portfolio Management inc. Invests $2.04 Million in Autodesk, Inc. (NASDAQ:ADSK)

Triasima Portfolio Management inc. purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, Holdings Channel.com reports. The fund purchased 6,905 shares of the software company’s stock, valued at approximately $2,041,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its position in shares of Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares during the period. FMR LLC raised its position in shares of Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after purchasing an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after purchasing an additional 61,785 shares during the period. Principal Financial Group Inc. grew its holdings in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after buying an additional 245,816 shares in the last quarter. Finally, Starboard Value LP bought a new position in Autodesk in the 3rd quarter worth approximately $510,189,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of recent analyst reports. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Rosenblatt Securities increased their price objective on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their price objective on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average price target of $333.77.

Insiders Place Their Bets

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

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $307.70 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. The business has a fifty day simple moving average of $299.35 and a 200 day simple moving average of $280.85. The firm has a market cap of $66.16 billion, a price-to-earnings ratio of 61.05, a P/E/G ratio of 3.67 and a beta of 1.43.

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

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.