Concentric Capital Strategies LP Has $6.41 Million Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Concentric Capital Strategies LP decreased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 41.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,253 shares of the software company’s stock after selling 16,279 shares during the quarter. Concentric Capital Strategies LP’s holdings in Autodesk were worth $6,406,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Olistico Wealth LLC acquired a new position in Autodesk during the 2nd quarter worth approximately $26,000. Pacifica Partners Inc. grew its stake in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after buying an additional 50 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Autodesk during the third quarter worth $27,000. Concord Wealth Partners bought a new position in shares of Autodesk in the 3rd quarter valued at $28,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Autodesk during the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird increased their target price on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective for the company. Rosenblatt Securities boosted their target price on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company raised their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $291.90 on Monday. The firm’s 50-day moving average price is $289.93 and its 200-day moving average price is $258.15. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $62.76 billion, a P/E ratio of 57.92, a P/E/G ratio of 3.73 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. Equities research analysts anticipate that Autodesk, Inc. will post 5.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk 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 sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is owned by corporate 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.