Principal Securities Inc. Takes $2.65 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Principal Securities Inc. bought a new stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 10,900 shares of the software company's stock, valued at approximately $2,654,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC bought a new position in shares of Autodesk in the 4th quarter worth $27,000. Rakuten Securities Inc. bought a new position in shares of Autodesk in the fourth quarter valued at $28,000. Operose Advisors LLC acquired a new position in shares of Autodesk during the third quarter valued at about $35,000. AdvisorNet Financial Inc increased its position in shares of Autodesk by 67.1% during the fourth quarter. AdvisorNet Financial Inc now owns 142 shares of the software company's stock worth $35,000 after acquiring an additional 57 shares in the last quarter. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of Autodesk by 230.5% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 195 shares of the software company's stock worth $40,000 after acquiring an additional 136 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

Shares of ADSK stock traded down $0.86 during trading on Friday, reaching $217.77. 1,032,836 shares of the company's stock traded hands, compared to its average volume of 1,465,466. Autodesk, Inc. has a 1 year low of $191.26 and a 1 year high of $279.53. The company has a market capitalization of $46.92 billion, a P/E ratio of 51.73, a PEG ratio of 2.96 and a beta of 1.45. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The firm's 50-day moving average is $239.96 and its 200 day moving average is $235.57.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.14. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. Equities research analysts expect that Autodesk, Inc. will post 5.38 EPS for the current year.

Insider Activity

In related news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Stephen W. Hope sold 1,757 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders sold 36,166 shares of company stock worth $9,465,055 in the last three months. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Mizuho boosted their price objective on Autodesk from $220.00 to $270.00 and gave the stock a "neutral" rating in a report on Friday, March 1st. BMO Capital Markets raised their price objective on Autodesk from $232.00 to $293.00 and gave the company a "market perform" rating in a research note on Friday, March 1st. Piper Sandler upped their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Oppenheimer boosted their price target on shares of Autodesk from $265.00 to $315.00 and gave the stock an "outperform" rating in a report on Friday, March 1st. Finally, Barclays lifted their target price on shares of Autodesk from $300.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Autodesk presently has an average rating of "Hold" and a consensus target price of $274.67.

Autodesk Company 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.

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