Essex Financial Services Inc. Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Essex Financial Services Inc. purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 902 shares of the software company’s stock, valued at approximately $220,000.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Autodesk by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 203,397 shares of the software company’s stock worth $49,523,000 after acquiring an additional 4,556 shares in the last quarter. Phraction Management LLC lifted its stake in Autodesk by 9.8% during the 4th quarter. Phraction Management LLC now owns 18,998 shares of the software company’s stock worth $4,626,000 after acquiring an additional 1,696 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Autodesk by 152.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 217 shares of the software company’s stock worth $53,000 after acquiring an additional 131 shares in the last quarter. Savant Capital LLC lifted its stake in Autodesk by 30.0% during the 4th quarter. Savant Capital LLC now owns 3,038 shares of the software company’s stock worth $740,000 after acquiring an additional 701 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in Autodesk by 4.9% during the 4th quarter. Mission Wealth Management LP now owns 6,901 shares of the software company’s stock worth $1,680,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ADSK shares. Piper Sandler Companies raised their price target on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. StockNews.com lowered Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Barclays lifted their target price on Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Rosenblatt Securities lifted their target price on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, BMO Capital Markets lifted their target price on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $274.67.

Autodesk Stock Up 2.5 %

ADSK opened at $215.19 on Friday. The business’s 50-day simple moving average is $243.24 and its 200-day simple moving average is $235.35. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. Autodesk, Inc. has a one year low of $189.54 and a one year high of $279.53. The stock has a market capitalization of $46.37 billion, a P/E ratio of 51.11, a price-to-earnings-growth ratio of 2.89 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company posted $1.26 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Autodesk, Inc. will post 5.38 EPS for the current year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the sale, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares in the company, valued at approximately $10,262,910.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rebecca Pearce sold 1,628 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the transaction, the executive vice president now owns 13,620 shares in the company, valued at $3,425,974.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,166 shares of company stock worth $9,465,055. Company insiders own 0.14% of the company’s stock.

About Autodesk

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.