Avanza Fonder AB Makes New $6.05 Million Investment in Autodesk, Inc. (NASDAQ:ADSK)

Avanza Fonder AB purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,469 shares of the software company’s stock, valued at approximately $6,050,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in Autodesk in the 3rd quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in Autodesk during the third quarter valued at $28,000. Concord Wealth Partners purchased a new stake in Autodesk in the 3rd quarter worth $28,000. Central Pacific Bank Trust Division bought a new position in shares of Autodesk during the 4th quarter valued at about $37,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after purchasing an additional 145 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Trading Up 1.8 %

Shares of NASDAQ:ADSK opened at $295.23 on Friday. The business has a 50-day moving average price of $301.03 and a 200-day moving average price of $274.97. The stock has a market cap of $63.47 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 3.36 and a beta of 1.42. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. Equities analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADSK has been the topic of several recent research reports. Macquarie initiated coverage on Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective on the stock. 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. KeyCorp increased their target price on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research report on Friday, November 29th. Finally, Stifel Nicolaus raised their target price 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. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.05.

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.