Dorsey Wright & Associates purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to its most recent filing with the SEC. The fund purchased 35,640 shares of the software company’s stock, valued at approximately $4,001,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of ADSK. Vanguard Group Inc. boosted its position in Autodesk by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after purchasing an additional 466,724 shares during the period. BlackRock Inc. boosted its position in Autodesk by 4.8% during the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after purchasing an additional 735,647 shares during the period. American Century Companies Inc. boosted its position in Autodesk by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 3,043,473 shares of the software company’s stock valued at $341,660,000 after purchasing an additional 364,994 shares during the period. Franklin Resources Inc. boosted its position in Autodesk by 18.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock valued at $281,589,000 after purchasing an additional 436,261 shares during the period. Finally, Fred Alger Management Inc. boosted its position in Autodesk by 52.3% during the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after purchasing an additional 829,021 shares during the period. Institutional investors and hedge funds own 94.63% of the company’s stock.
A number of brokerages have issued reports on ADSK. Guggenheim upgraded Autodesk from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Monday. KeyCorp reiterated a “buy” rating and set a $128.00 price target on shares of Autodesk in a research report on Friday. Evercore ISI set a $135.00 price target on Autodesk and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Robert W. Baird set a $125.00 price target on Autodesk and gave the stock a “buy” rating in a research report on Sunday, October 1st. Finally, Cowen and Company boosted their price target on Autodesk from $115.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $121.95.
In related news, SVP Steven M. Blum sold 9,128 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $112.26, for a total transaction of $1,024,709.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Anagnost sold 24,004 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $112.73, for a total value of $2,705,970.92. The disclosure for this sale can be found here. Insiders have sold 79,789 shares of company stock worth $9,189,363 over the last ninety days. 6.10% of the stock is owned by insiders.
Shares of Autodesk, Inc. (NASDAQ ADSK) traded down $0.24 during trading on Tuesday, hitting $124.40. The stock had a trading volume of 212,412 shares, compared to its average volume of 2,007,656. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.02. Autodesk, Inc. has a 12 month low of $68.06 and a 12 month high of $126.44.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. Autodesk’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 earnings per share. equities research analysts predict that Autodesk, Inc. will post -1.38 EPS for the current fiscal year.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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