William Blair Investment Management LLC boosted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 98.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,038 shares of the software company’s stock after buying an additional 88,888 shares during the quarter. William Blair Investment Management LLC owned approximately 0.08% of Autodesk worth $27,948,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Autodesk during the fourth quarter valued at approximately $480,386,000. Cantillon Capital Management LLC acquired a new position in Autodesk in the 4th quarter valued at $236,439,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Autodesk by 76.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,837,421 shares of the software company’s stock valued at $286,821,000 after purchasing an additional 797,089 shares in the last quarter. Parnassus Investments CA boosted its stake in Autodesk by 260.8% during the 1st quarter. Parnassus Investments CA now owns 643,212 shares of the software company’s stock worth $100,405,000 after purchasing an additional 464,942 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Autodesk by 240.5% in the first quarter. Fisher Asset Management LLC now owns 530,711 shares of the software company’s stock valued at $82,844,000 after buying an additional 374,833 shares during the last quarter. Institutional investors own 94.15% of the company’s stock.
Shares of NASDAQ ADSK traded up $0.21 during trading on Friday, reaching $194.96. The stock had a trading volume of 8,705 shares, compared to its average volume of 1,362,301. Autodesk, Inc. has a fifty-two week low of $125.38 and a fifty-two week high of $211.58. The business’s 50-day moving average price is $172.48 and its 200-day moving average price is $177.72. The company has a market cap of $43.10 billion, a P/E ratio of 202.87, a PEG ratio of 1.65 and a beta of 1.60.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 27th. The software company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $899.30 million during the quarter, compared to analysts’ expectations of $891.06 million. Autodesk had a negative return on equity of 165.74% and a net margin of 6.55%. Autodesk’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Research analysts expect that Autodesk, Inc. will post 2.76 earnings per share for the current fiscal year.
A number of research firms have commented on ADSK. Wedbush reiterated a “neutral” rating and issued a $205.00 price objective (up previously from $190.00) on shares of Autodesk in a report on Friday. Bank of America lifted their price objective on Autodesk from $127.00 to $150.00 and gave the stock an “underperform” rating in a research report on Friday, February 28th. Zacks Investment Research cut Autodesk from a “buy” rating to a “hold” rating and set a $193.00 target price for the company. in a report on Friday, March 6th. Deutsche Bank cut their target price on Autodesk from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Friday. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $205.00 price target on shares of Autodesk in a report on Sunday, May 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Autodesk has a consensus rating of “Buy” and an average price target of $196.87.
In other news, SVP Fronzo Pascal W. Di sold 8,186 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $195.00, for a total value of $1,596,270.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 212 shares of Autodesk stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $147.81, for a total value of $31,335.72. The disclosure for this sale can be found here. Insiders sold 8,479 shares of company stock valued at $1,639,556 in the last 90 days. Company insiders own 0.14% of the company’s stock.
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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