Waterfront Wealth Inc. Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Waterfront Wealth Inc. boosted its position in Autodesk, Inc. (NASDAQ:ADSK) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,945 shares of the software company’s stock after purchasing an additional 114 shares during the quarter. Waterfront Wealth Inc.’s holdings in Autodesk were worth $961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Autodesk by 351.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after acquiring an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Autodesk by 71.7% during the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Autodesk by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after acquiring an additional 164 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Autodesk during the 1st quarter worth $218,000. Finally, Dakota Wealth Management lifted its holdings in shares of Autodesk by 18.0% during the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after acquiring an additional 292 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of Autodesk in a research note on Monday, April 1st. Piper Sandler boosted their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Piper Sandler Companies boosted their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Rosenblatt Securities boosted their price target on shares of Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $272.44.

Autodesk Trading Down 3.9 %

Shares of NASDAQ ADSK traded down $8.44 during midday trading on Thursday, hitting $206.48. 496,383 shares of the company traded hands, compared to its average volume of 1,362,015. Autodesk, Inc. has a 12-month low of $188.38 and a 12-month high of $279.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a 50-day moving average price of $253.88 and a 200 day moving average price of $235.09. The firm has a market cap of $44.17 billion, a P/E ratio of 51.05, a P/E/G ratio of 3.14 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. Autodesk’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, analysts expect that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Insider Activity at Autodesk

In related news, Director Stacy J. Smith sold 7,554 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $244.00, for a total transaction of $1,843,176.00. Following the transaction, the director now owns 19,934 shares in the company, valued at $4,863,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stacy J. Smith sold 7,554 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $244.00, for a total transaction of $1,843,176.00. Following the completion of the sale, the director now owns 19,934 shares in the company, valued at approximately $4,863,896. The disclosure for this sale can be found here. Insiders have sold 46,220 shares of company stock worth $11,933,231 over the last 90 days. 0.14% of the stock is owned by company 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.