Y Intercept Hong Kong Ltd Expands Investment in Autodesk, Inc. (NASDAQ:ADSK)

Y Intercept Hong Kong Ltd has recently taken a new investment position in Autodesk, Inc. (NASDAQ:ADSK), as disclosed in their latest Form 13F filing with the Securities and Exchange Commission (SEC) for the third quarter. The firm acquired 3,171 shares of Autodesk's stock, amounting to an investment valued at approximately $874,000.

Institutional Investor Activity

Other institutional investors and hedge funds are also adjusting their stakes in Autodesk. Livelsberger Financial Advisory initiated a new investment during the third quarter, valued at around $27,000. Transcendent Capital Group LLC and Concord Wealth Partners each acquired shares valued at about $28,000 during the same period. Additionally, Stephens Consulting LLC made a new investment during the second quarter valued at around $32,000. GPS Wealth Strategies Group LLC significantly increased its Autodesk holdings by 94.3% in the second quarter, now owning 136 shares valued at $34,000 after adding 66 shares to their position. Overall, institutional investors comprise 90.24% of Autodesk's stock ownership.

Insider Transactions

There have also been recent insider transactions. Stephen W. Hope, the Chief Accounting Officer, sold 286 shares of Autodesk on September 30, 2023, at an average price of $274.84, totaling $78,604.24. After this transaction, he now holds 4,879 shares, valued at around $1,340,944.36, reflecting a decrease of 5.54% in his position. Moreover, Director Mary T. Mcdowell sold 550 shares on November 15, 2023, at an average price of $305.06, which amounted to $167,783.00. Following this sale, she owns 30,249 shares worth approximately $9,227,759.94, a 1.79% decline in her shareholding. In the last 90 days, insiders sold a total of 1,936 shares equating to $549,333. Collectively, insiders hold 0.14% of the company's shares.

Autodesk Stock Performance

As of last Friday, shares of Autodesk were trading at $309.34. The company has a 50-day simple moving average of $295.30 and a two-hundred-day moving average of $262.63. With a market capitalization of $66.51 billion, Autodesk has a price-to-earnings (P/E) ratio of 61.33, a price-to-earnings growth (PEG) ratio of 3.63, and a beta of 1.43. The stock has traded between a low of $195.32 and a high of $326.62 over the past year. The company's debt-to-equity ratio stands at 0.76, with both current and quick ratios also at 0.65.

On November 26, 2023, Autodesk reported its quarterly earnings, which revealed earnings per share (EPS) of $2.17, surpassing the consensus estimate of $2.12 by $0.05. The company achieved a net margin of 18.30%, with a return on equity of 53.87%. Autodesk's revenue for the quarter was $1.57 billion, slightly above expectations of $1.56 billion. This revenue marked an 11.0% increase year-over-year, compared to an EPS of $1.33 in the same quarter the previous year. Analysts project that Autodesk, Inc. will achieve a total EPS of 5.76 for the current fiscal year.

Analyst Ratings and Price Objectives

Many Wall Street analysts have weighed in on Autodesk's stock. Oppenheimer recently raised their price target for Autodesk from $300.00 to $350.00, maintaining an 'outperform' rating. Mizuho increased their target price for Autodesk from $260.00 to $280.00 while giving it a 'neutral' rating. Macquarie initiated coverage on Autodesk with an 'outperform' rating and a price target of $380.00. Piper Sandler also increased their price target from $257.00 to $311.00, maintaining a 'neutral' rating. Stifel Nicolaus raised its price objective for Autodesk from $320.00 to $340.00 with a 'buy' rating. Currently, a total of ten analysts have assigned a hold rating while fourteen analysts have given it a buy rating. The average price target among analysts is set at $323.05, classifying the stock as a 'Moderate Buy.'

About Autodesk

Autodesk, Inc. is a leader in providing 3D design, engineering, and entertainment technology solutions globally. The company’s product lineup includes AutoCAD Civil 3D, which caters to civil engineering projects; BuildingConnected, a preconstruction SaaS solution; and Fusion 360, a versatile CAD, CAM, and computer-aided engineering tool. Other offerings include AutoCAD and Industry Collections catering to various sectors such as architecture and construction, product design, and more.

Investment, Autodesk, Insider