Elevate Capital Advisors LLC Purchases Shares of 3,676 Autodesk, Inc. (NASDAQ:ADSK)

Elevate Capital Advisors LLC purchased a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,676 shares of the software company’s stock, valued at approximately $1,087,000.

Several other large investors also recently modified their holdings of the stock. Marshall Financial Group LLC grew its holdings in Autodesk by 0.8% in the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after purchasing an additional 35 shares during the period. Mount Yale Investment Advisors LLC grew its stake in shares of Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock valued at $551,000 after buying an additional 35 shares during the period. Y.D. More Investments Ltd increased its position in Autodesk by 1.0% in the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust increased its position in Autodesk by 9.2% in the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after buying an additional 37 shares in the last quarter. Finally, Journey Strategic Wealth LLC boosted its holdings in Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a report on Friday, November 29th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Rosenblatt Securities raised their price objective on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Oppenheimer boosted their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus raised their price target on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $333.77.

Autodesk Stock Performance

NASDAQ:ADSK opened at $301.15 on Monday. The company has a market capitalization of $64.75 billion, a P/E ratio of 59.75, a P/E/G ratio of 3.17 and a beta of 1.43. The business has a fifty day simple moving average of $299.53 and a two-hundred day simple moving average of $281.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. On average, analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

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.