Prospera Financial Services Inc Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Prospera Financial Services Inc acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK – Get Rating) in the 1st quarter, HoldingsChannel reports. The firm acquired 541 shares of the software company’s stock, valued at approximately $116,000.

Several other large investors also recently bought and sold shares of ADSK. Norges Bank purchased a new stake in Autodesk during the 4th quarter worth approximately $1,504,904,000. Castleview Partners LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $3,181,000. Intermede Investment Partners Ltd purchased a new stake in shares of Autodesk in the first quarter valued at approximately $130,889,000. State Street Corp grew its position in shares of Autodesk by 3.9% in the fourth quarter. State Street Corp now owns 8,786,922 shares of the software company’s stock valued at $2,470,795,000 after purchasing an additional 333,863 shares in the last quarter. Finally, Findlay Park Partners LLP grew its position in shares of Autodesk by 11.2% in the fourth quarter. Findlay Park Partners LLP now owns 3,264,249 shares of the software company’s stock valued at $917,874,000 after purchasing an additional 330,000 shares in the last quarter. 89.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America assumed coverage on Autodesk in a research report on Wednesday. They issued a “neutral” rating and a $220.00 price target for the company. Robert W. Baird upped their price target on Autodesk from $255.00 to $260.00 in a research report on Friday, May 27th. Morgan Stanley cut their target price on Autodesk from $258.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, May 27th. Oppenheimer started coverage on Autodesk in a research note on Tuesday, July 26th. They set an “outperform” rating and a $320.00 target price for the company. Finally, Mizuho reissued a “buy” rating and set a $250.00 target price on shares of Autodesk in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $261.80.

Autodesk Trading Down 0.1 %

ADSK opened at $221.70 on Friday. Autodesk, Inc. has a 52 week low of $163.20 and a 52 week high of $344.39. The business has a fifty day simple moving average of $189.93 and a 200-day simple moving average of $203.36. The firm has a market cap of $48.17 billion, a P/E ratio of 100.77 and a beta of 1.53. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.35.

Autodesk (NASDAQ:ADSK – Get Rating) last released its earnings results on Thursday, May 26th. The software company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Autodesk had a return on equity of 68.41% and a net margin of 10.67%. Autodesk’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, equities analysts expect that Autodesk, Inc. will post 3.99 earnings per share for the current year.

Insider Activity at Autodesk

In related news, EVP Rebecca Pearce sold 1,608 shares of Autodesk stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $207.86, for a total value of $334,238.88. Following the completion of the transaction, the executive vice president now directly owns 19,325 shares in the company, valued at $4,016,894.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 327 shares of Autodesk stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $177.43, for a total transaction of $58,019.61. Following the completion of the sale, the chief accounting officer now directly owns 4,186 shares of the company’s stock, valued at approximately $742,721.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rebecca Pearce sold 1,608 shares of Autodesk stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $207.86, for a total value of $334,238.88. Following the sale, the executive vice president now directly owns 19,325 shares of the company’s stock, valued at $4,016,894.50. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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