Hennessy Advisors Inc. Makes New $120,000 Investment in Autodesk, Inc. $ADSK

Hennessy Advisors Inc. purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 387 shares of the software company’s stock, valued at approximately $120,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OMNI 360 Wealth Inc. bought a new position in Autodesk in the 2nd quarter worth approximately $359,000. E. Ohman J or Asset Management AB boosted its stake in Autodesk by 1.8% in 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 purchasing an additional 2,276 shares during the period. Spire Wealth Management raised 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 acquiring an additional 50 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Autodesk during the 1st quarter worth approximately $324,000. Finally, GK Wealth Management LLC purchased a new stake in shares of Autodesk during the 2nd quarter worth approximately $348,000. 90.24% of the stock is currently owned by institutional investors.

Insider Transactions at Autodesk

In other news, EVP Ruth Ann Keene sold 2,761 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $315.10, for a total transaction of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares of the company’s stock, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the transaction, the executive vice president directly owned 13,099 shares in the company, valued at $4,240,801.25. The trade was a 63.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,386 shares of company stock worth $11,433,201 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. HSBC set a $343.00 price objective on Autodesk and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen cut Autodesk from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 28th. Mizuho upped their price objective on Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Piper Sandler upped their price objective on Autodesk from $361.00 to $373.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Finally, Oppenheimer upped their price objective on Autodesk from $350.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.13.

Autodesk Price Performance

ADSK opened at $318.90 on Monday. Autodesk, Inc. has a 12-month low of $232.67 and a 12-month high of $329.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $307.37 and its 200-day simple moving average is $293.04. The company has a market capitalization of $67.93 billion, a price-to-earnings ratio of 66.02, a PEG ratio of 2.83 and a beta of 1.49.

About Autodesk

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.