Allspring Global Investments Holdings LLC Purchases 27,706 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Posted by Defense World Staff on Apr 5th, 2023

Allspring Global Investments Holdings LLC lifted its position in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 27.3% during the 4th quarter, Holdings Channel reports. The firm owned 129,308 shares of the software company’s stock after acquiring an additional 27,706 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Autodesk were worth $24,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TD Capital Management LLC bought a new position in shares of Autodesk in the third quarter worth approximately $30,000. First Manhattan Co. grew its holdings in shares of Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. Riverview Trust Co grew its holdings in shares of Autodesk by 189.2% in the third quarter. Riverview Trust Co now owns 188 shares of the software company’s stock worth $35,000 after purchasing an additional 123 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Autodesk in the first quarter worth approximately $36,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Autodesk by 346.9% in the second quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 87.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ADSK. Argus dropped their price target on Autodesk from $290.00 to $265.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. Credit Suisse Group dropped their price target on Autodesk from $325.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. TheStreet raised Autodesk from a “c+” rating to a “b” rating in a research note on Thursday, February 23rd. Barclays dropped their price target on Autodesk from $257.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, February 24th. Finally, Robert W. Baird dropped their price target on Autodesk from $255.00 to $247.00 in a research note on Friday, February 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average price target of $232.40.

Insider Buying and Selling

In related news, CFO Deborah Clifford sold 3,815 shares of Autodesk stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $196.75, for a total value of $750,601.25. Following the completion of the sale, the chief financial officer now directly owns 18,209 shares in the company, valued at approximately $3,582,620.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Deborah Clifford sold 3,815 shares of Autodesk stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $196.75, for a total value of $750,601.25. Following the completion of the sale, the chief financial officer now directly owns 18,209 shares in the company, valued at approximately $3,582,620.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 394 shares of the business’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $195.66, for a total value of $77,090.04. Following the sale, the chief accounting officer now owns 3,074 shares of the company’s stock, valued at $601,458.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,084 shares of company stock worth $2,405,942. 0.11% of the stock is owned by corporate insiders.

Autodesk Price Performance

ADSK opened at $203.32 on Wednesday. The stock has a 50-day moving average price of $208.98 and a 200-day moving average price of $202.16. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $43.67 billion, a PE ratio of 53.79, a P/E/G ratio of 1.93 and a beta of 1.53. Autodesk, Inc. has a 1 year low of $163.20 and a 1 year high of $235.01.

Autodesk (NASDAQ:ADSK – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The software company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.05. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. Autodesk’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. Sell-side analysts predict that Autodesk, Inc. will post 4.49 earnings per share for the current fiscal year.

Autodesk Company Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.