Empirical Finance LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

Empirical Finance LLC decreased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,317 shares of the software company’s stock after selling 77 shares during the quarter. Empirical Finance LLC’s holdings in Autodesk were worth $2,163,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in Autodesk by 35.7% in the 4th quarter. Empowered Funds LLC now owns 6,438 shares of the software company’s stock worth $1,903,000 after buying an additional 1,695 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Autodesk by 10.3% in the fourth quarter. Apollon Wealth Management LLC now owns 8,906 shares of the software company’s stock worth $2,632,000 after acquiring an additional 832 shares during the period. Appleton Partners Inc. MA grew its position in shares of Autodesk by 2.0% during the fourth quarter. Appleton Partners Inc. MA now owns 24,817 shares of the software company’s stock worth $7,335,000 after purchasing an additional 479 shares in the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Autodesk during the fourth quarter worth about $2,041,000. Finally, Golden State Wealth Management LLC bought a new stake in Autodesk during the 4th quarter valued at approximately $25,000. Institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Bank of America lifted their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Scotiabank started coverage on Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk Stock Down 2.1 %

Shares of ADSK opened at $301.15 on Monday. The firm has a fifty day moving average price of $299.53 and a 200-day moving average price of $281.48. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $64.75 billion, a P/E ratio of 59.75, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS 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 business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm earned $1.33 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

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.