Miracle Mile Advisors LLC Has $1.08 Million Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Miracle Mile Advisors LLC lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 34.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,652 shares of the software company’s stock after buying an additional 933 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Autodesk were worth $1,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADSK. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the third quarter worth $27,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the third quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk during the third quarter worth $28,000. Central Pacific Bank Trust Division acquired a new stake in shares of Autodesk during the fourth quarter worth $37,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $286.87 on Wednesday. The stock has a market cap of $61.68 billion, a P/E ratio of 56.92, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average is $301.26 and its 200-day moving average is $274.86. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. Equities research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADSK. Robert W. Baird lifted their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. BMO Capital Markets raised their price target on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Macquarie initiated coverage on Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research report on Friday, November 29th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $326.05.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by 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.