Meridian Management Co. grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,893 shares of the software company's stock after buying an additional 3,738 shares during the quarter. Autodesk accounts for approximately 1.3% of Meridian Management Co.'s holdings, making the stock its 22nd biggest holding. Meridian Management Co.'s holdings in Autodesk were worth $4,050,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Curi Wealth Management LLC purchased a new stake in shares of Autodesk during the 4th quarter valued at about $25,000. Hanson & Doremus Investment Management grew its holdings in Autodesk by 1,136.4% during the 1st quarter. Hanson & Doremus Investment Management now owns 136 shares of the software company's stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Bank of New Hampshire bought a new position in Autodesk during the 1st quarter valued at about $33,000. CVA Family Office LLC grew its holdings in Autodesk by 81.4% during the 1st quarter. CVA Family Office LLC now owns 156 shares of the software company's stock valued at $33,000 after purchasing an additional 70 shares during the last quarter. Finally, Arrow Financial Corp grew its holdings in Autodesk by 125.0% during the 1st quarter. Arrow Financial Corp now owns 180 shares of the software company's stock valued at $38,000 after purchasing an additional 100 shares during the last quarter. 89.55% of the stock is currently owned by hedge funds and other institutional investors.
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Autodesk Stock Performance
Shares of NASDAQ ADSK traded up $5.75 during midday trading on Friday, reaching $233.01. The company had a trading volume of 957,159 shares, compared to its average volume of 1,446,853. The business's 50-day simple moving average is $191.46 and its 200 day simple moving average is $202.46. The stock has a market cap of $50.63 billion, a P/E ratio of 105.91 and a beta of 1.53. Autodesk, Inc. has a 1 year low of $163.20 and a 1 year high of $344.39. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.35.
Autodesk (NASDAQ:ADSK – Get Rating) last posted its quarterly earnings results on Thursday, May 26th. The software company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.15 billion. Autodesk had a net
margin of 10.67% and a return on equity of 68.41%. The business's quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. On average, analysts forecast that Autodesk, Inc. will post 3.99 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Autodesk news, CAO Stephen W. Hope sold 327 shares of the firm's stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $177.43, for a total value of $58,019.61. Following the completion of the transaction, the chief accounting officer now owns 4,186 shares of the company's stock, valued at $742,721.98. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Stephen W. Hope sold 327 shares of the firm's stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $177.43, for a total transaction of $58,019.61. Following the completion of the transaction, the chief accounting officer now owns 4,186 shares of the company's stock, valued at $742,721.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rebecca Pearce sold 1,608 shares of the firm's stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $207.86, for a total transaction of $334,238.88. Following the transaction, the executive vice president now directly owns 19,325 shares of the company's stock, valued at approximately $4,016,894.50. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on ADSK shares. Royal Bank of Canada cut their price target on shares of Autodesk from $295.00 to $255.00 in a report on Monday, May 23rd. Mizuho restated a "buy" rating and issued a $250.00 target price on shares of Autodesk in a research note on Friday, May 27th. Bank of America started coverage on shares of Autodesk in a research note on Wednesday, August 3rd. They issued a "neutral" rating and a $220.00 target price on the stock. Credit Suisse Group dropped their target price on shares of Autodesk from $440.00 to $335.00 and set a "na" rating on the stock in a research note on Tuesday, May 17th. Finally, Piper Sandler dropped their target price on shares of Autodesk from $298.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, May 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $261.80.
Autodesk Profile
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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.
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