Panoramic Capital Partners LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Panoramic Capital Partners LLC bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 906 shares of the software company’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Equitable Trust Co. lifted its position in Autodesk by 27.8% during the fourth quarter. Equitable Trust Co. now owns 3,691 shares of the software company’s stock worth $1,091,000 after acquiring an additional 803 shares during the last quarter. Soltis Investment Advisors LLC grew its position in shares of Autodesk by 438.2% in the fourth quarter. Soltis Investment Advisors LLC now owns 16,684 shares of the software company’s stock valued at $4,931,000 after purchasing an additional 13,584 shares during the last quarter. Elevate Capital Advisors LLC bought a new position in shares of Autodesk during the fourth quarter worth approximately $1,087,000. Savant Capital LLC lifted its holdings in Autodesk by 5.5% during the 4th quarter. Savant Capital LLC now owns 3,401 shares of the software company’s stock worth $1,005,000 after purchasing an additional 176 shares during the last quarter. Finally, 17 Capital Partners LLC boosted its stake in Autodesk by 81.6% in the 4th quarter. 17 Capital Partners LLC now owns 3,250 shares of the software company’s stock valued at $961,000 after purchasing an additional 1,460 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the topic of several recent research reports. Robert W. Baird increased their price objective on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Oppenheimer raised their price target 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. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research note on Friday, November 29th. BMO Capital Markets raised their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, Bank of America lifted their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.77.

Autodesk Stock Up 1.3 %

Shares of ADSK opened at $304.99 on Tuesday. The stock has a market capitalization of $65.57 billion, a price-to-earnings ratio of 60.51, a PEG ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $299.53 and a 200-day moving average of $281.78.

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 firm had revenue of $1.57 billion for 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 business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.33 earnings per share. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.