Beacon Investment Advisory Services Inc. Acquires New Position in Autodesk, Inc. $ADSK

Key Points

• Beacon Investment Advisory Services Inc. acquired 1,728 shares of Autodesk, Inc. valued at approximately $535,000 in the second quarter.
• Multiple analysts have increased their price targets for Autodesk, with Mizuho and Royal Bank of Canada setting targets of $375.00 and $380.00, respectively.
• Insider trading activity includes Director Ayanna Howard selling over 3,159 shares and EVP Steven M. Blum selling 22,420 shares, significantly reducing their ownership stakes.

Beacon Investment Advisory Services Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,728 shares of the software company's stock, valued at approximately $535,000.

Other large investors also recently bought and sold shares of the company. OMNI 360 Wealth Inc. acquired a new stake in shares of Autodesk during the 2nd quarter worth approximately $359,000. E. Ohman J or Asset Management AB increased its holdings in shares of Autodesk by 1.8% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 127,126 shares of the software company's stock worth $39,354,000 after buying an additional 2,276 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Autodesk by 2.5% during the 1st quarter. Spire Wealth Management now owns 2,075 shares of the software company's stock worth $543,000 after buying an additional 50 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $324,000. Finally, GK Wealth Management LLC acquired a new stake in shares of Autodesk during the 2nd quarter worth approximately $348,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ADSK shares. Mizuho raised their price target on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Royal Bank Of Canada raised their price target on shares of Autodesk from $345.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. DA Davidson restated a "buy" rating and set a $375.00 price target on shares of Autodesk in a report on Friday, August 29th. KeyCorp upped their price objective on shares of Autodesk from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Finally, Oppenheimer upped their price objective on shares of Autodesk from $350.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average target price of $356.83.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Ayanna Howard sold 3,159 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the sale, the director directly owned 4,393 shares in the company, valued at $1,427,725. This represents a 41.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president owned 13,099 shares in the company, valued at approximately $4,240,801.25. This trade represents a 63.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,830 shares of company stock valued at $13,123,341 in the last quarter. Corporate insiders own 0.15% of the company's stock.

Autodesk Stock Performance

Shares of ADSK stock opened at $320.17 on Friday. The firm's 50 day moving average price is $304.95 and its 200-day moving average price is $289.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. Autodesk, Inc. has a one year low of $232.67 and a one year high of $329.09. The firm has a market cap of $68.20 billion, a P/E ratio of 66.29, a P/E/G ratio of 2.87 and a beta of 1.49.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.