Exane Derivatives reduced its stake in Autodesk, Inc. (NASDAQ: ADSK – Get a rating) by 54.6% in the 1st quarter, HoldingsChannel reports. The company held 435 shares of the software company’s shares after selling 523 shares during the quarter. Exane Derivatives’ holdings in Autodesk were worth $93,000 when it last filed with the SEC.
A number of other major investors have also recently increased or reduced their stakes in the company. State Street Corp raised its position in Autodesk 3.9% in the fourth quarter. State Street Corp now owns 8,786,922 shares of the software company valued at $2,470,795,000 after purchasing an additional 333,863 shares during the period. Brown Advisory Inc. increased its position in Autodesk by 18.3% in the fourth quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company valued at $1,641,953,000 after purchasing an additional 902,168 shares during the period. Norges Bank bought a new position in Autodesk in the fourth quarter worth approximately $1,504,904,000. Pictet Asset Management SA increased its position in Autodesk by 4.8% in the fourth quarter. Pictet Asset Management SA now owns 4,112,980 shares of the software company valued at $1,156,529,000 after purchasing an additional 186,973 shares during the period. Finally, Geode Capital Management LLC increased its position in Autodesk by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,566,451 shares of the software company valued at $999,908,000 after purchasing an additional 99,362 shares during the period. 89.55% of the shares are currently held by institutional investors.
Shares of ADSK Action opened at $179.83 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt ratio of 3.35. The company has a 50-day moving average of $187.80 and a two-hundred-day moving average of $213.82. 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 $39.07 billion, a P/E ratio of 81.74 and a beta of 1.46.
Autodesk (NASDAQ: ADSK – Get a rating) last released its results on Thursday, May 26. The software company reported EPS of $1.43 for the quarter, beating consensus analyst estimates of $1.34 by $0.09. Autodesk had a return on equity of 68.41% and a net margin of 10.67%. The company posted revenue of $1.17 billion in the quarter, versus a consensus estimate of $1.15 billion. In the same period a year earlier, the company posted earnings per share of $1.03. Autodesk’s quarterly revenue increased 18.3% compared to the same quarter last year. Analysts expect Autodesk, Inc. to post EPS of 4.01 for the current fiscal year.
Several research analysts have commented on ADSK shares. Royal Bank of Canada reduced its price target on Autodesk from $295.00 to $255.00 in a Monday, May 23 research report. Piper Sandler lowered its target price on Autodesk from $298.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, May 27. Stifel Nicolaus lowered his price target on Autodesk from $285.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, May 23. Barclays lowered its target price on Autodesk from $230.00 to $216.00 and set an “overweight” rating on the stock in a research report on Friday May 27. Finally, Morgan Stanley lowered its target price on Autodesk from $258.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, May 27. One research analyst has assigned the stock a sell rating, three have assigned a hold rating and sixteen have assigned the stock a buy rating. Based on data from MarketBeat.com, 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 Autodesk in a trade that took place on Tuesday, May 31. The stock was sold at an average price of $207.86, for a total value of $334,238.88. Following completion of the transaction, 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 legal filing with the SEC, accessible via this hyperlink. Insiders hold 0.11% of the company’s shares.
About Autodesk (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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