GSA Capital Partners LLP Takes $836,000 Position in Autodesk, Inc. (NASDAQ:ADSK)

GSA Capital Partners LLP acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,034 shares of the software company’s stock, valued at approximately $836,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its holdings in shares of Autodesk by 9.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company’s stock valued at $369,000 after acquiring an additional 122 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Autodesk by 1.8% during the first quarter. Blair William & Co. IL now owns 13,409 shares of the software company’s stock valued at $3,492,000 after purchasing an additional 241 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Autodesk by 2.9% during the first quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after purchasing an additional 161 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Autodesk by 67.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 9,273 shares of the software company’s stock valued at $2,415,000 after buying an additional 3,743 shares during the period. Finally, Catalytic Wealth RIA LLC bought a new position in Autodesk in the 1st quarter valued at approximately $250,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of Autodesk stock opened at $299.15 on Friday. The business has a 50-day simple moving average of $281.32 and a 200 day simple moving average of $251.23. Autodesk, Inc. has a one year low of $195.32 and a one year high of $315.73. 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 firm has a market capitalization of $64.32 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 4.00 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of research reports. Bank of America upped their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. BMO Capital Markets raised their target price on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Berenberg Bank upped their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Rosenblatt Securities increased their price target on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company initiated coverage on Autodesk in a report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $296.20.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 over the last three months. 0.14% of the stock is currently owned by insiders.

Autodesk 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.