Chicago Partners Investment Group LLC Makes New $284,000 Investment in Autodesk, Inc. (NASDAQ:ADSK)

Chicago Partners Investment Group LLC purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 992 shares of the software company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADSK. FORA Capital LLC acquired a new stake in Autodesk during the first quarter worth about $384,000. Whittier Trust Co. lifted its holdings in Autodesk by 23.9% in the first quarter. Whittier Trust Co. now owns 2,186 shares of the software company’s stock valued at $569,000 after acquiring an additional 422 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Autodesk by 11.9% in the first quarter. Geneos Wealth Management Inc. now owns 2,758 shares of the software company’s stock worth $718,000 after acquiring an additional 293 shares during the period. Grandfield & Dodd LLC increased its stake in Autodesk by 0.3% during the first quarter. Grandfield & Dodd LLC now owns 139,362 shares of the software company’s stock worth $36,293,000 after acquiring an additional 419 shares during the last quarter. Finally, Advisory Alpha LLC raised its position in Autodesk by 33.4% in the first quarter. Advisory Alpha LLC now owns 1,545 shares of the software company’s stock valued at $402,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADSK. Berenberg Bank raised their price objective on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Piper Sandler boosted their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Royal Bank of Canada increased their price objective on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and boosted their target price for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Citigroup set a $325.00 price target on Autodesk and gave the stock a “buy” rating in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.95.

Autodesk Stock Up 1.4 %

Autodesk stock opened at $291.79 on Wednesday. The stock’s fifty day moving average is $273.11 and its two-hundred day moving average is $246.64. The stock has a market cap of $62.73 billion, a PE ratio of 59.67, a P/E/G ratio of 3.64 and a beta of 1.47. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $294.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $1.12 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,200,929 in the last quarter. 0.14% of the stock is owned by 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.