Financial Gravity Asset Management Inc. Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Financial Gravity Asset Management Inc. grew its stake in Autodesk, Inc. (NASDAQ:ADSK) by 8.8% during the 2nd quarter, Holdings Channel reports. The fund owned 8,184 shares of the software company’s stock after acquiring an additional 660 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Autodesk were worth $2,025,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. FIL Ltd lifted its stake in shares of Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares during the period. Finally, Brown Advisory Inc. boosted its position in Autodesk by 12.9% during the fourth quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock worth $696,342,000 after acquiring an additional 327,144 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

ADSK stock opened at $250.37 on Friday. The firm has a market cap of $53.96 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The stock has a 50-day simple moving average of $247.13 and a 200-day simple moving average of $239.10.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 64.61%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts predict that Autodesk, Inc. will post 5.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ADSK shares. Berenberg Bank boosted their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Piper Sandler upped their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Oppenheimer raised their price target on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Mizuho lifted their price target on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Barclays increased their price objective on shares of Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Insiders Place Their Bets

In other news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders have sold 57,275 shares of company stock worth $14,220,661 in the last quarter. 0.14% of the stock is owned by corporate insiders.

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.