Townsquare Capital LLC Raises Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Townsquare Capital LLC increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,455 shares of the software company’s stock after purchasing an additional 1,023 shares during the quarter. Townsquare Capital LLC’s holdings in Autodesk were worth $11,104,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its stake in Autodesk by 7.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,783 shares of the software company’s stock worth $1,766,000 after buying an additional 448 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk in the 1st quarter valued at $25,000. Citizens Financial Group Inc. RI acquired a new position in shares of Autodesk in the 1st quarter valued at $251,000. LRI Investments LLC acquired a new position in shares of Autodesk in the 1st quarter valued at $26,000. Finally, Swedbank AB acquired a new position in shares of Autodesk in the 1st quarter valued at $39,054,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 8.6 %

Autodesk stock opened at $290.64 on Thursday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The stock has a 50 day moving average of $289.02 and a two-hundred day moving average of $256.83. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada upped their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Oppenheimer upped their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Citigroup upped their price target on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler upped their price target on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Barclays upped their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $315.38.

Insiders Place Their Bets

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is owned by company 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.