Los Angeles Capital Management LLC increases its stake in Autodesk, Inc. (NASDAQ: ADSK)


Los Angeles Capital Management LLC increased its position in shares of Autodesk, Inc. (NASDAQ: ADSKGet an assessment) by 71.2% in the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The company held 2,056 shares of the software company after buying an additional 855 shares during the period. Los Angeles Capital Management LLC’s holdings in Autodesk were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Connectus Wealth LLC increased its position in Autodesk shares by 12.8% in the first quarter. Connectus Wealth LLC now owns 130,883 shares of the software company worth $28,136,000 after buying an additional 14,823 shares in the last quarter. Camden Capital LLC increased its position in Autodesk shares by 52.0% in the first quarter. Camden Capital LLC now owns 1,675 shares of the software company worth $359,000 after buying 573 additional shares in the last quarter. Capco Asset Management LLC increased its position in Autodesk shares by 70.3% in the first quarter. Capco Asset Management LLC now owns 112,175 shares of the software company worth $24,045,000 after buying an additional 46,301 shares in the last quarter. AIA Group Ltd increased its position in Autodesk shares by 29.3% in the first quarter. AIA Group Ltd now owns 626 shares of the software company worth $134,000 after buying 142 more shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Autodesk shares by 2.9% in the 1st quarter. CIBC Asset Management Inc. now owns 45,909 shares of the software company worth $9,841,000 after buying 1,313 additional shares in the last quarter. Hedge funds and other institutional investors own 89.55% of the company’s shares.

Autodesk stock up to 2.5%

NASDAQ ADSK opened at $233.01 on Monday. The company has a debt ratio of 3.35, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50-day simple moving average is $191.46 and its 200-day simple moving average is $202.27. Autodesk, Inc. has a 12-month low of $163.20 and a 12-month high of $344.39. The company has a market capitalization of $50.63 billion, a P/E ratio of 105.91 and a beta of 1.53.

Autodesk (NASDAQ: ADSKGet an assessment) last released its quarterly results on Thursday, May 26. The software company reported earnings per share (EPS) of $0.87 for the quarter, beating consensus analyst estimates of $0.77 by $0.10. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The company posted revenue of $1.17 billion for the quarter, compared to analysts’ estimates of $1.15 billion. In the same quarter a year earlier, the company had earned earnings per share of $1.03. The company’s revenue increased by 18.3% compared to the same quarter last year. Equity research analysts expect Autodesk, Inc. to post earnings per share of 3.99 for the current fiscal year.

Analyst upgrades and downgrades

Several equity research analysts have recently weighed in on ADSK shares. Stifel Nicolaus lowered his price target on Autodesk shares from $285.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, May 23. KeyCorp cut its price target on Autodesk shares from $260.00 to $250.00 and set an “overweight” rating for the company in a Friday, May 27 report. Goldman Sachs Group cut its price target on Autodesk shares from $210.00 to $185.00 and set a “sell” rating for the company in a Tuesday, May 31 report. Credit Suisse Group lowered its price target on Autodesk shares from $440.00 to $335.00 and set an “na” rating for the company in a Tuesday, May 17 report. Finally, OTR Global upgraded Autodesk shares to a “positive” rating in a Thursday, May 5 report. One research analyst rated the stock with a sell rating, four issued a hold rating and sixteen issued a buy rating for the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.80.

Insider activity

Separately, CAO Stephen W. Hope sold 327 shares of the company in a trade that took place on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total transaction of $58,019.61. As a result of the sale, the chief accountant now owns 4,186 shares of the company, valued at $742,721.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. In other Autodesk CAD news Stephen W. Hope sold 327 shares of the company in a transaction that took place on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total value of $58,019.61. As a result of the transaction, the accounting chief now owns 4,186 shares of the company, valued at approximately $742,721.98. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, VPE 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 transaction, the executive vice president now owns 19,325 shares of the company, valued at approximately $4,016,894.50. Disclosure of this sale can be found here. 0.11% of the shares are held by insiders of the company.

Autodesk Company Profile

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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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Institutional ownership by quarter for Autodesk (NASDAQ: ADSK)



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