Clearstead Trust LLC Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Clearstead Trust LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the second quarter, Holdings Channel.com reports. The fund bought 180 shares of the software company’s stock, valued at approximately $45,000.

Other large investors have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth $25,000. Concord Wealth Partners purchased a new stake in shares of Autodesk during the first quarter worth $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk during the first quarter worth $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk during the first quarter worth $26,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the second quarter worth $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Oppenheimer upped their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird dropped their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Finally, Royal Bank of Canada upped their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.17.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the sale, the director now directly owns 31,016 shares in the company, valued at approximately $7,857,283.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,762 shares of company stock valued at $10,046,302. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Trading Up 1.4 %

Shares of ADSK stock opened at $267.73 on Tuesday. The firm has a market cap of $57.70 billion, a PE ratio of 57.95, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a 50-day moving average of $248.76 and a two-hundred day moving average of $239.16.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, analysts predict that Autodesk, Inc. will post 5.73 EPS for the current 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.