GAMMA Investing LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

GAMMA Investing LLC acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,529 shares of the software company’s stock, valued at approximately $388,000.

Other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC increased its stake in Autodesk by 86.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock worth $1,959,000 after purchasing an additional 4,381 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Autodesk during the third quarter valued at approximately $330,000. abrdn plc lifted its position in shares of Autodesk by 26.2% in the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after acquiring an additional 95,723 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $7,280,000. Finally, International Assets Investment Management LLC grew its position in Autodesk by 3,539.1% during the 4th quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock worth $55,370,000 after purchasing an additional 221,161 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Down 0.8 %

Shares of Autodesk stock traded down $1.85 on Wednesday, hitting $216.08. The company had a trading volume of 1,015,026 shares, compared to its average volume of 1,441,469. The stock has a 50-day moving average of $250.18 and a 200-day moving average of $235.54. The firm has a market capitalization of $46.22 billion, a P/E ratio of 51.76, a P/E/G ratio of 2.98 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. Autodesk, Inc. has a twelve month low of $188.38 and a twelve month high of $279.53.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Autodesk in a research report on Monday, April 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $316.00 target price on shares of Autodesk in a research note on Friday, April 12th. Piper Sandler Companies raised their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. TheStreet upgraded shares of Autodesk from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Finally, Oppenheimer lifted their target price on shares of Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the transaction, the director now owns 38,766 shares in the company, valued at approximately $10,262,910.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the transaction, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the sale, the director now directly owns 33,766 shares in the company, valued at $9,285,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,166 shares of company stock worth $9,465,055. Insiders own 0.14% of the company’s stock.

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.