Stephens Investment Management Group LLC grew its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,862 shares of the software company’s stock after acquiring an additional 2,209 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Autodesk were worth $13,122,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in ADSK. Public Employees Retirement Association of Colorado increased its stake in Autodesk by 7.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 41,548 shares of the software company’s stock worth $6,486,000 after purchasing an additional 2,725 shares in the last quarter. Bartlett & Co. LLC bought a new stake in Autodesk during the 1st quarter worth approximately $145,000. Cambridge Investment Research Advisors Inc. increased its stake in Autodesk by 12.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,251 shares of the software company’s stock worth $507,000 after purchasing an additional 349 shares in the last quarter. Swiss National Bank increased its stake in Autodesk by 23.0% during the 1st quarter. Swiss National Bank now owns 852,189 shares of the software company’s stock worth $133,027,000 after purchasing an additional 159,600 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in Autodesk by 122.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,395 shares of the software company’s stock worth $217,000 after purchasing an additional 768 shares in the last quarter. 90.62% of the stock is owned by institutional investors.
Autodesk stock traded down $2.62 during mid-day trading on Wednesday, hitting $233.25. 15,722 shares of the company’s stock traded hands, compared to its average volume of 1,568,010. The firm has a 50 day simple moving average of $238.98 and a two-hundred day simple moving average of $206.73. Autodesk, Inc. has a fifty-two week low of $125.38 and a fifty-two week high of $261.94. The stock has a market cap of $51.72 billion, a price-to-earnings ratio of 145.59, a P/E/G ratio of 3.10 and a beta of 1.52. The company has a debt-to-equity ratio of 24.31, a current ratio of 0.84 and a quick ratio of 0.84.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, August 25th. The software company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. Autodesk had a negative return on equity of 457.10% and a net margin of 10.26%. The business had revenue of $913.10 million during the quarter, compared to the consensus estimate of $901.76 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, research analysts anticipate that Autodesk, Inc. will post 2.33 earnings per share for the current fiscal year.
ADSK has been the subject of a number of research reports. Barclays increased their target price on Autodesk from $274.00 to $283.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Wedbush reduced their price target on Autodesk from $205.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Goldman Sachs Group upped their price target on Autodesk from $228.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. KeyCorp upped their price target on Autodesk from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. Finally, Deutsche Bank upped their price target on Autodesk from $250.00 to $284.00 in a research report on Wednesday, August 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Autodesk currently has an average rating of “Hold” and a consensus target price of $242.41.
In other Autodesk news, SVP Steven M. Blum sold 7,490 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $237.67, for a total transaction of $1,780,148.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Anagnost sold 22,639 shares of the stock in a transaction on Friday, June 19th. The stock was sold at an average price of $241.04, for a total value of $5,456,904.56. The disclosure for this sale can be found here. Insiders have sold a total of 45,485 shares of company stock valued at $10,980,901 in the last ninety days. Insiders own 0.14% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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