Avalon Trust Co Buys 72 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Avalon Trust Co grew its stake in Autodesk, Inc. (NASDAQ:ADSK) by 34.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279 shares of the software company’s stock after buying an additional 72 shares during the quarter. Avalon Trust Co’s holdings in Autodesk were worth $68,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in shares of Autodesk by 70.9% during the 4th quarter. National Bank of Canada FI now owns 202,081 shares of the software company’s stock valued at $47,309,000 after buying an additional 83,864 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in Autodesk by 5.9% during the fourth quarter. FourThought Financial Partners LLC now owns 21,368 shares of the software company’s stock valued at $5,203,000 after acquiring an additional 1,186 shares during the period. AJOVista LLC purchased a new position in shares of Autodesk in the fourth quarter valued at about $208,000. Legacy Financial Advisors Inc. boosted its stake in shares of Autodesk by 12.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,203 shares of the software company’s stock worth $780,000 after acquiring an additional 351 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $304,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ADSK. Piper Sandler boosted their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Rosenblatt Securities increased their price target on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Piper Sandler Companies raised their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their price objective on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Finally, Oppenheimer raised their target price on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $274.67.

Autodesk Stock Up 2.5 %

ADSK stock traded up $5.24 during trading on Friday, reaching $215.19. 1,197,081 shares of the company traded hands, compared to its average volume of 2,034,404. The business has a 50 day simple moving average of $243.24 and a 200 day simple moving average of $235.68. Autodesk, Inc. has a 12 month low of $189.54 and a 12 month high of $279.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm earned $1.26 earnings per share. Autodesk’s revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,166 shares of company stock valued at $9,465,055. Company insiders own 0.14% of the company’s stock.

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.