Meritage Portfolio Management Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

Meritage Portfolio Management raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 6.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,264 shares of the software company’s stock after buying an additional 2,337 shares during the period. Meritage Portfolio Management’s holdings in Autodesk were worth $8,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bouvel Investment Partners LLC lifted its holdings in Autodesk by 0.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after buying an additional 44 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Autodesk by 3.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock worth $306,000 after purchasing an additional 45 shares during the last quarter. Goodman Advisory Group LLC boosted its holdings in Autodesk by 0.4% in the fourth quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after purchasing an additional 49 shares during the period. Curbstone Financial Management Corp increased its stake in Autodesk by 0.5% during the fourth quarter. Curbstone Financial Management Corp now owns 9,760 shares of the software company’s stock valued at $2,376,000 after purchasing an additional 50 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Autodesk by 11.4% during the third quarter. Lindbrook Capital LLC now owns 527 shares of the software company’s stock worth $109,000 after purchasing an additional 54 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares in the company, valued at $10,262,910.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew Anagnost sold 21,053 shares of the company’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 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 filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares in the company, valued at approximately $10,262,910.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,166 shares of company stock worth $9,465,055. Insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Autodesk stock traded up $2.04 during midday trading on Friday, hitting $218.44. The company’s stock had a trading volume of 699,688 shares, compared to its average volume of 1,462,793. Autodesk, Inc. has a 12 month low of $188.38 and a 12 month high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $46.72 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 2.96 and a beta of 1.43. The stock’s 50-day moving average price is $248.34 and its 200-day moving average price is $235.26.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Analysts anticipate that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADSK has been the subject of several research reports. Mizuho lifted their price target on shares of Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. Oppenheimer boosted their price objective on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Citigroup increased their target price on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Piper Sandler Companies upped their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

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.