Blue Barn Wealth LLC Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Blue Barn Wealth LLC grew its stake in Autodesk, Inc. (NASDAQ:ADSK) by 12.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,984 shares of the software company’s stock after purchasing an additional 214 shares during the quarter. Blue Barn Wealth LLC’s holdings in Autodesk were worth $483,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ADSK. Vanguard Group Inc. raised its stake in shares of Autodesk by 0.4% in the third quarter. Vanguard Group Inc. now owns 18,728,596 shares of the software company’s stock worth $3,875,134,000 after purchasing an additional 69,039 shares during the last quarter. Clearbridge Investments LLC increased its position in Autodesk by 1.2% during the third quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company’s stock valued at $624,471,000 after acquiring an additional 35,105 shares during the last quarter. Northern Trust Corp increased its position in Autodesk by 1.7% in the third quarter. Northern Trust Corp now owns 2,548,156 shares of the software company’s stock worth $527,239,000 after buying an additional 43,293 shares in the last quarter. Morgan Stanley boosted its stake in shares of Autodesk by 4.5% in the third quarter. Morgan Stanley now owns 2,378,796 shares of the software company’s stock worth $492,197,000 after acquiring an additional 102,035 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Autodesk by 14.2% during the third quarter. Ameriprise Financial Inc. now owns 2,364,179 shares of the software company’s stock valued at $489,178,000 after buying an additional 293,464 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADSK has been the topic of several recent analyst reports. Piper Sandler increased their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group boosted their target price on shares of Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. Mizuho upped their price objective on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Stifel Nicolaus restated a “buy” rating and set a $316.00 price target on shares of Autodesk in a report on Friday, April 12th. Finally, BMO Capital Markets increased their price objective on Autodesk from $232.00 to $293.00 and gave the company a “market perform” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $274.67.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, February 15th. The stock was 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 directly owns 38,766 shares in the company, valued at $10,262,910.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was 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 directly owns 38,766 shares of the company’s stock, valued at $10,262,910.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now directly owns 33,766 shares of the company’s stock, valued at $9,285,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,166 shares of company stock valued at $9,465,055. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK traded down $0.67 during trading hours on Wednesday, hitting $213.95. The company had a trading volume of 1,132,258 shares, compared to its average volume of 1,469,421. Autodesk, Inc. has a fifty-two week low of $190.95 and a fifty-two week high of $279.53. The business has a fifty day simple moving average of $241.58 and a 200-day simple moving average of $235.84. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm has a market cap of $46.10 billion, a P/E ratio of 50.86, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last released its quarterly 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. Equities analysts predict that Autodesk, Inc. will post 5.38 EPS for the current year.

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.