KBC Group NV trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 10.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,264 shares of the software company’s stock after selling 9,991 shares during the quarter. KBC Group NV’s holdings in Autodesk were worth $23,459,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Trustcore Financial Services LLC lifted its holdings in Autodesk by 109.7% in the 3rd quarter. Trustcore Financial Services LLC now owns 130 shares of the software company’s stock valued at $37,000 after acquiring an additional 68 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in Autodesk by 35.6% during the 3rd quarter. AdvisorNet Financial Inc now owns 137 shares of the software company’s stock worth $39,000 after buying an additional 36 shares during the period. Newfound Research LLC acquired a new stake in Autodesk during the 3rd quarter worth about $56,000. Monetary Management Group Inc. acquired a new stake in Autodesk during the 2nd quarter worth about $58,000. Finally, Evermay Wealth Management LLC acquired a new stake in Autodesk during the 2nd quarter worth about $60,000. 86.87% of the stock is owned by institutional investors.
In other Autodesk news, CAO Stephen W. Hope sold 109 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The stock was sold at an average price of $262.88, for a total transaction of $28,653.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 197 shares of the company’s stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $260.47, for a total value of $51,312.59. The disclosure for this sale can be found here. Insiders have sold 5,109 shares of company stock valued at $1,311,749 in the last ninety days. Company insiders own 0.11% of the company’s stock.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 23rd. The software company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Autodesk had a return on equity of 51.01% and a net margin of 31.31%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. On average, analysts predict that Autodesk, Inc. will post 2.93 EPS for the current year.
Several analysts have issued reports on the company. Rosenblatt Securities cut their price objective on Autodesk from $355.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, November 24th. Oppenheimer cut their price objective on Autodesk from $350.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, November 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Autodesk from $370.00 to $330.00 and set a “buy” rating on the stock in a report on Monday, November 29th. Zacks Investment Research downgraded Autodesk from a “hold” rating to a “strong sell” rating and set a $216.00 price objective on the stock. in a report on Monday, November 29th. Finally, Morgan Stanley boosted their price objective on Autodesk from $324.00 to $344.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 24th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $333.31.
Autodesk Company Profile
Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.
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