First Republic Investment Management Inc. cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,375 shares of the software company’s stock after selling 1,704 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.07% of Autodesk worth $24,880,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Autodesk during the third quarter worth about $104,000. First Bank & Trust acquired a new position in shares of Autodesk during the third quarter worth about $149,000. Bank of Stockton purchased a new stake in Autodesk during the third quarter worth approximately $205,000. Bronfman E.L. Rothschild L.P. lifted its stake in Autodesk by 58.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,331 shares of the software company’s stock worth $174,000 after purchasing an additional 489 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in Autodesk during the third quarter worth approximately $209,000. 94.02% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ ADSK opened at $132.57 on Friday. Autodesk, Inc. has a twelve month low of $101.55 and a twelve month high of $159.94. The company has a market capitalization of $30.64 billion, a price-to-earnings ratio of -82.86, a PEG ratio of 41.55 and a beta of 1.96.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 20th. The software company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 13.37%. The company had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $641.07 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, equities research analysts expect that Autodesk, Inc. will post 0.09 EPS for the current year.
In other Autodesk news, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $149.77, for a total value of $149,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Anagnost sold 23,008 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $152.03, for a total value of $3,497,906.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,008 shares of company stock valued at $3,784,036. 0.14% of the stock is owned by company insiders.
Several research firms recently weighed in on ADSK. CIBC boosted their target price on Autodesk from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Oppenheimer boosted their target price on Autodesk from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. BidaskClub upgraded Autodesk from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research cut Autodesk from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Finally, Credit Suisse Group boosted their target price on Autodesk from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $160.63.
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Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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