Parnassus Investments LLC Buys 96,985 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Parnassus Investments LLC raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 35.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 373,085 shares of the software company’s stock after purchasing an additional 96,985 shares during the period. Parnassus Investments LLC’s holdings in Autodesk were worth $102,777,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Financial Group LLC lifted its stake in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock worth $1,237,000 after acquiring an additional 35 shares during the last quarter. Avitas Wealth Management LLC lifted its holdings in Autodesk by 0.8% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after buying an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after buying an additional 44 shares during the period. Meeder Asset Management Inc. boosted its position in Autodesk by 28.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after acquiring an additional 44 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in Autodesk by 5.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price objective on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Scotiabank began coverage on shares of Autodesk in a research report on Monday. They set a “sector outperform” rating and a $360.00 price target for the company. Barclays raised their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird boosted their price objective on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $301.19.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the firm’s 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 sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock valued at $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Autodesk Trading Up 1.0 %

Shares of Autodesk stock opened at $302.05 on Tuesday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $315.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $64.94 billion, a PE ratio of 61.77, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47. The firm has a fifty day moving average price of $282.25 and a 200 day moving average price of $252.44.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Equities research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Autodesk Company 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.