Varma Mutual Pension Insurance Co lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 51.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,000 shares of the software company’s stock after selling 165,000 shares during the quarter. Varma Mutual Pension Insurance Co owned about 0.07% of Autodesk worth $24,115,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ADSK. Summit Trail Advisors LLC lifted its stake in Autodesk by 10,083.1% in the first quarter. Summit Trail Advisors LLC now owns 1,265,960 shares of the software company’s stock valued at $1,266,000 after buying an additional 1,253,528 shares during the period. Morgan Stanley lifted its stake in Autodesk by 197.1% in the second quarter. Morgan Stanley now owns 1,802,152 shares of the software company’s stock valued at $236,244,000 after buying an additional 1,195,537 shares during the period. Brown Advisory Inc. lifted its stake in Autodesk by 5,008.4% in the second quarter. Brown Advisory Inc. now owns 1,058,418 shares of the software company’s stock valued at $138,748,000 after buying an additional 1,037,699 shares during the period. Macquarie Group Ltd. raised its position in shares of Autodesk by 248,332.3% during the second quarter. Macquarie Group Ltd. now owns 993,729 shares of the software company’s stock worth $130,268,000 after purchasing an additional 993,329 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Autodesk by 363.1% during the second quarter. Janus Henderson Group PLC now owns 1,146,506 shares of the software company’s stock worth $150,295,000 after purchasing an additional 898,919 shares during the period. 95.60% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on ADSK shares. BidaskClub lowered Autodesk from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Zacks Investment Research downgraded Autodesk from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Guggenheim reiterated a “neutral” rating and set a $150.00 price target on shares of Autodesk in a report on Wednesday, August 8th. Wedbush reiterated a “neutral” rating and set a $137.00 price target on shares of Autodesk in a report on Friday, August 17th. Finally, Barclays upped their price objective on Autodesk from $152.00 to $166.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $163.74.
In other news, CEO Andrew Anagnost sold 23,008 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $152.03, for a total value of $3,497,906.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Crawford W. Beveridge sold 1,000 shares of Autodesk stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $149.77, for a total value of $149,770.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,009 shares of company stock worth $4,431,583. Corporate insiders own 0.14% of the company’s stock.
Shares of Autodesk stock opened at $133.70 on Wednesday. The stock has a market cap of $29.32 billion, a PE ratio of -83.56, a PEG ratio of 112.85 and a beta of 1.97. Autodesk, Inc. has a 12 month low of $101.55 and a 12 month high of $159.94.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 23rd. The software company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The business had revenue of $612.00 million for the quarter, compared to analyst estimates of $600.36 million. During the same period last year, the company earned ($0.11) EPS. Autodesk’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Autodesk, Inc. will post 0.05 earnings per share for the current fiscal year.
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Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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