Atlanta Consulting Group Advisors LLC Invests $886,000 in Autodesk, Inc. (NASDAQ:ADSK)

Atlanta Consulting Group Advisors LLC acquired a new position in Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, HoldingsChannel.com reports. The firm acquired 3,217 shares of the software company’s stock, valued at approximately $886,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk in the first quarter worth approximately $25,000. LRI Investments LLC bought a new stake in Autodesk in the 1st quarter worth approximately $26,000. Olistico Wealth LLC purchased a new stake in Autodesk during the 2nd quarter valued at $26,000. Pacifica Partners Inc. lifted its holdings in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after buying an additional 50 shares during the period. Finally, Livelsberger Financial Advisory purchased a new position in shares of Autodesk in the 3rd quarter worth $27,000. 90.24% of the stock is owned by institutional investors.

Autodesk Price Performance

ADSK stock opened at $299.15 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company’s fifty day moving average price is $281.32 and its 200-day moving average price is $251.50. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73. The company has a market capitalization of $64.32 billion, a PE ratio of 61.18, a price-to-earnings-growth ratio of 4.00 and a beta of 1.47.

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

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 17,099 shares in the company, valued at $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 in the last quarter. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on ADSK shares. Citigroup set a $325.00 price objective on Autodesk and gave the company a “buy” rating in a research report on Friday, October 18th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Barclays boosted their target price on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $320.00 price target on shares of Autodesk in a research report on Monday, September 30th. Finally, Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.20.

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.