Disciplined Growth Investors Inc. MN Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Disciplined Growth Investors Inc. MN raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 357,581 shares of the software company’s stock after purchasing an additional 9,361 shares during the quarter. Autodesk makes up approximately 1.9% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 25th largest holding. Disciplined Growth Investors Inc. MN’s holdings in Autodesk were worth $98,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Jag Capital Management LLC purchased a new stake in shares of Autodesk during the 3rd quarter valued at approximately $13,861,000. LMR Partners LLP purchased a new position in Autodesk in the 3rd quarter valued at approximately $12,643,000. Starboard Value LP bought a new stake in Autodesk during the 3rd quarter valued at $510,189,000. Erste Asset Management GmbH purchased a new stake in shares of Autodesk during the third quarter worth $20,087,000. Finally, Bank of Montreal Can boosted its holdings in shares of Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after acquiring an additional 73,363 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $308.55 on Tuesday. The company has a market capitalization of $66.34 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 3.63 and a beta of 1.43. The business has a 50 day moving average of $293.82 and a 200 day moving average of $261.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business posted $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ADSK shares. Berenberg Bank boosted their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target on the stock. Morgan Stanley increased their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Piper Sandler boosted their price objective on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $316.68.

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock worth $549,333 over the last three months. 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.