AE Wealth Management LLC increased its stake in shares of Autodesk, Inc. (NASDAQ: ADSK – Get a rating) by 17.4% in the first quarter, Holdings Channel.com reports. The fund held 20,980 shares of the software company after buying 3,115 additional shares during the quarter. AE Wealth Management LLC’s holdings in Autodesk were worth $4,497,000 at the end of the last quarter.
A number of other institutional investors and hedge funds have also increased or reduced their stakes in the company. SkyOak Wealth LLC acquired a new stake in Autodesk during Q1 valued at $212,000. FirstPurpose Wealth LLC increased its stake in Autodesk by 40.4% during Q1. FirstPurpose Wealth LLC now owns 1,672 shares of the software company worth $358,000 after acquiring 481 additional shares during the period. IFM Investors Pty Ltd increased its stake in Autodesk by 26.5% in the 1st quarter. IFM Investors Pty Ltd now owns 36,072 shares in the software company worth $7,732,000 after acquiring an additional 7,557 shares during the period. Columbia Trust Co 01012016 increased its holdings of Autodesk shares by 2.5% in Q1. Columbia Trust Co 01012016 now owns 4,160 shares of the software company valued at $819,000 after buying an additional 100 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its stake in Autodesk shares by 7.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,265 shares of the software company valued at $271,000 after purchasing 93 additional shares during the period. 89.55% of the shares are held by hedge funds and other institutional investors.
Shares of NASDAQ: ADSK opened at $173.86 on Friday. Autodesk, Inc. has a 52-week low of $163.20 and a 52-week high of $344.39. The company has a market capitalization of $37.77 billion, a P/E ratio of 79.03 and a beta of 1.43. The company has a 50-day simple moving average of $188.86 and a 200-day simple moving average of $217.18. The company has a debt ratio of 3.35, a quick ratio of 0.62 and a current ratio of 0.62.
Autodesk (NASDAQ: ADSK – Get a rating) last released its results on Thursday, May 26. The software company reported earnings per share (EPS) of $1.43 for the quarter, beating the consensus estimate of $1.34 by $0.09. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The company posted revenue of $1.17 billion in the quarter, versus a consensus estimate of $1.15 billion. During the same period last year, the company posted EPS of $1.03. Autodesk revenue increased 18.3% year over year. As a group, stock analysts expect Autodesk, Inc. to post earnings per share of 3.97 for the current year.
Several equity analysts have recently published reports on the stock. Mizuho reissued a “buy” rating and posted a $250.00 price target on Autodesk shares in a Friday, May 27 report. TheStreet downgraded Autodesk shares from a “b-” to a “c+” rating in a Tuesday, March 8 research note. KeyCorp cut its target price on Autodesk shares from $260.00 to $250.00 and set an “overweight” rating for the company in a Friday, May 27 research note. Deutsche Bank Aktiengesellschaft downgraded Autodesk shares from a “buy” rating to a “hold” rating and reduced its target price for the stock from $275.00 to $225.00 in a research note from the Monday, May 23. Finally, Morgan Stanley cut its price target on Autodesk shares from $258.00 to $245.00 and set an “equal weight” rating for the company in a Friday, May 27 research note. One research analyst rated the security with a sell rating, three assigned a hold rating and sixteen assigned a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $263.74.
In other Autodesk news, EVP Rebecca Pearce sold 1,608 shares of the company in a transaction that took place on Tuesday, May 31. The shares were sold at an average price of $207.86, for a total transaction of $334,238.88. Following the completion of the sale, the executive vice president now directly owns 19,325 shares of the company, valued at $4,016,894.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Insiders of the company hold 0.11% of the shares of the company.
Autodesk Profile (Get a rating)
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.
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