Wedbush Securities Inc. reduced its stake in Autodesk, Inc. (NASDAQ: ADSK – Get a rating) by 5.3% in the 1st quarter, according to its last filing with the Securities and Exchange Commission. The fund held 5,396 shares of the software company after selling 303 shares during the quarter. Wedbush Securities Inc.’s holdings in Autodesk were worth $1,157,000 at the end of the most recent reporting period.
Several other hedge funds have also recently changed their positions in ADSK. State Street Corp increased its stake in Autodesk shares by 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 buying an additional 333,863 shares last quarter. Brown Advisory Inc. increased its stake in Autodesk by 18.3% during the fourth quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company worth $1,641,953,000 after purchasing an additional 902,168 shares in the last quarter. Norges Bank acquired a new position in Autodesk during the fourth quarter worth $1,504,904,000. Pictet Asset Management SA increased its stake in Autodesk by 4.8% during the fourth quarter. Pictet Asset Management SA now owns 4,112,980 shares of the software company worth $1,156,529,000 after purchasing an additional 186,973 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Autodesk by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,566,451 shares of the software company worth $999,908,000 after purchasing an additional 99,362 shares in the last quarter. Institutional investors hold 89.55% of the company’s shares.
In other Autodesk news, EVP Rebecca Pearce sold 1,608 shares of the company in a trade dated Tuesday, May 31. The stock was 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 owns 19,325 shares of the company, valued at $4,016,894.50. The transaction was disclosed in an SEC filing, which is available via this hyperlink. 0.11% of the shares are currently held by insiders.
ADSK Action opened at $173.86 on Friday. The stock has a 50-day moving average price of $188.86 and a 200-day moving average price of $217.18. Autodesk, Inc. has a 12-month low of $163.20 and a 12-month high of $344.39. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 3.35. The company has a market capitalization of $37.77 billion, a PE ratio of 79.03 and a beta of 1.43.
Autodesk (NASDAQ: ADSK – Get a rating) last released its quarterly results on Thursday, May 26. The software company reported earnings per share (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 quarter a year earlier, the company had earned earnings per share of $1.03. The company’s quarterly revenue increased by 18.3% compared to the same quarter last year. Stock analysts expect Autodesk, Inc. to post EPS of 3.97 for the current fiscal year.
Several stock analysts have recently released reports on ADSK shares. Credit Suisse Group cut its price target on Autodesk from $440.00 to $335.00 and set an “na” rating for the company in a Tuesday, May 17 report. Barclays cut its price target on Autodesk from $230.00 to $216.00 and set an “overweight” rating for the company in a Friday May 27 report. Citigroup cut its price target on Autodesk from $264.00 to $258.00 and set a “buy” rating for the company in a Friday, May 27 report. Deutsche Bank Aktiengesellschaft upgraded Autodesk from a “buy” rating to a “hold” rating and lowered its price target for the stock from $275.00 to $225.00 in a Monday, May 23 report. Finally, Morgan Stanley cut its price target on Autodesk from $258.00 to $245.00 and set an “equal weight” rating for the company in a Friday, May 27 report. One research analyst rated the stock with a sell rating, three gave the company a hold rating and sixteen gave the company a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.74.
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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