Fortis Capital Management LLC Has $4.71 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Fortis Capital Management LLC lessened its position in Autodesk, Inc. (NASDAQ:ADSK) by 7.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 17,099 shares of the software company’s stock after selling 1,461 shares during the period. Fortis Capital Management LLC’s holdings in Autodesk were worth $4,710,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADSK. New Covenant Trust Company N.A. acquired a new stake in Autodesk in the 1st quarter valued at $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the first quarter valued at $26,000. Livelsberger Financial Advisory acquired a new position in shares of Autodesk during the third quarter valued at about $27,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk during the third quarter worth about $28,000. Finally, Concord Wealth Partners acquired a new stake in shares of Autodesk in the 3rd quarter worth about $28,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 1.1 %

Shares of NASDAQ ADSK opened at $313.14 on Thursday. The business’s fifty day moving average price is $278.10 and its 200-day moving average price is $249.83. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73. The stock has a market capitalization of $67.33 billion, a PE ratio of 64.04, a P/E/G ratio of 3.93 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares in the company, valued at $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,730 shares of company stock valued at $5,064,430 over the last three months. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. DA Davidson initiated coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target for the company. Mizuho set a $260.00 price target on Autodesk in a research report on Friday, October 18th. KeyCorp reaffirmed an “overweight” rating and set a $305.00 price objective on shares of Autodesk in a report on Monday, August 26th. Finally, Citigroup set a $325.00 target price on shares of Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

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.