Principal Financial Group Inc. Has $603.95 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Principal Financial Group Inc. lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,192,345 shares of the software company’s stock after acquiring an additional 245,816 shares during the quarter. Principal Financial Group Inc. owned approximately 1.02% of Autodesk worth $603,947,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ADSK. TD Asset Management Inc lifted its position in shares of Autodesk by 13.0% during the first quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock worth $113,128,000 after purchasing an additional 50,027 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Autodesk by 10.9% during the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock worth $13,097,000 after acquiring an additional 4,932 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after acquiring an additional 38,196 shares during the period. Forsta AP Fonden boosted its holdings in Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in Autodesk by 8.2% in the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after purchasing an additional 49,500 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,280 shares of company stock worth $5,200,929. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Piper Sandler upped their target price on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Rosenblatt Securities raised their price target on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets upped their price objective on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Finally, Bank of America increased their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.95.

Autodesk Price Performance

ADSK stock opened at $302.33 on Thursday. The stock has a 50-day moving average price of $274.06 and a two-hundred day moving average price of $247.03. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $305.49. The stock has a market cap of $65.00 billion, a PE ratio of 61.83, a price-to-earnings-growth ratio of 3.64 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.12 earnings per share. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

About Autodesk

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.