Point72 Hong Kong Ltd Makes New $1.38 Million Investment in Autodesk, Inc. (NASDAQ:ADSK)

Point72 Hong Kong Ltd bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 5,001 shares of the software company’s stock, valued at approximately $1,378,000.

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

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,936 shares of company stock valued at $549,333 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Mizuho lifted their price objective on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Rosenblatt Securities boosted their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson assumed coverage on Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 target price for the company. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $315.10.

Autodesk Trading Up 0.4 %

NASDAQ:ADSK opened at $291.90 on Monday. The firm has a market capitalization of $62.76 billion, a P/E ratio of 57.92, a P/E/G ratio of 3.73 and a beta of 1.47. The business has a 50 day simple moving average of $289.93 and a 200 day simple moving average of $258.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts predict that Autodesk, Inc. will post 5.79 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.