Merit Financial Group LLC Purchases 201 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Autodesk logoMerit Financial Group LLC grew its position in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 18.6% in the fourth quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,279 shares of the software company’s stock after purchasing an additional 201 shares during the quarter. Merit Financial Group LLC’s holdings in Autodesk were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ADSK. TD Capital Management LLC bought a new position in shares of Autodesk in the third quarter worth approximately $30,000. First Manhattan Co. boosted its position in shares of Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares during the period. Riverview Trust Co boosted its position in shares of Autodesk by 189.2% in the third quarter. Riverview Trust Co now owns 188 shares of the software company’s stock worth $35,000 after purchasing an additional 123 shares during the period. Worth Asset Management LLC bought a new position in shares of Autodesk in the first quarter worth approximately $36,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of Autodesk by 346.9% in the second quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after purchasing an additional 170 shares during the period. 87.89% of the stock is currently owned by institutional investors.

Autodesk Trading Down 0.5 %

ADSK stock opened at $200.22 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.99. Autodesk, Inc. has a twelve month low of $163.20 and a twelve month high of $235.01. The stock has a market capitalization of $43.00 billion, a price-to-earnings ratio of 52.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.51. The firm’s fifty day simple moving average is $209.05 and its two-hundred day simple moving average is $202.40.

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Autodesk (NASDAQ:ADSK – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that Autodesk, Inc. will post 4.49 earnings per share for the current year.

Insider Transactions at Autodesk

In other news, CFO Deborah Clifford sold 1,557 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $205.71, for a total value of $320,290.47. Following the transaction, the chief financial officer now directly owns 19,609 shares in the company, valued at $4,033,767.39. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. In other news, Director Betsy Rafael sold 309 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $199.48, for a total value of $61,639.32. Following the transaction, the director now directly owns 4,815 shares in the company, valued at $960,496.20. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. Also, CFO Deborah Clifford sold 1,557 shares of the stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $205.71, for a total transaction of $320,290.47. Following the transaction, the chief financial officer now owns 19,609 shares in the company, valued at $4,033,767.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,307 shares of company stock worth $669,107. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equity analysts have recently commented on ADSK shares. Argus lowered their target price on shares of Autodesk from $290.00 to $265.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st. Rosenblatt Securities reissued a “buy” rating and issued a $235.00 target price on shares of Autodesk in a report on Wednesday, March 22nd. KeyCorp boosted their target price on shares of Autodesk from $237.00 to $244.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Piper Sandler boosted their target price on shares of Autodesk from $236.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Autodesk from $203.00 to $175.00 and set a “neutral” rating on the stock in a report on Monday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $232.40.

About Autodesk

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Autodesk, Inc. engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.

Further Reading

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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