Mutual Advisors LLC cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,168 shares of the software company’s stock after selling 109 shares during the period. Mutual Advisors LLC’s holdings in Autodesk were worth $339,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Starboard Value LP purchased a new stake in Autodesk during the third quarter valued at approximately $510,189,000. International Assets Investment Management LLC increased its position in shares of Autodesk by 58,375.5% during the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Autodesk by 394.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Autodesk by 36.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares in the last quarter. Finally, State Street Corp grew its stake in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.
Insider Activity
In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.
Autodesk Trading Up 3.6 %
Autodesk (NASDAQ:ADSK – Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ADSK has been the subject of a number of research analyst reports. Citigroup increased their price target on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Oppenheimer increased their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets boosted their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a report on Friday, November 29th. Finally, Scotiabank initiated coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $331.50.
Get Our Latest Analysis on ADSK
Autodesk Company Profile
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.
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