Massachusetts Financial Services Co. MA Increases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 394.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,360 shares of the software company’s stock after purchasing an additional 452,728 shares during the period. Massachusetts Financial Services Co. MA owned about 0.26% of Autodesk worth $156,296,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new position in Autodesk during the first quarter worth $25,000. LRI Investments LLC acquired a new position in Autodesk in the 1st quarter valued at about $26,000. Olistico Wealth LLC purchased a new position in Autodesk in the 2nd quarter valued at about $26,000. Pacifica Partners Inc. boosted its stake in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Autodesk during the third quarter worth about $27,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. DA Davidson started coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Stifel Nicolaus lifted their price objective on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Rosenblatt Securities upped their target price on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Citigroup lifted their price target on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada increased their price objective on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Trading Up 1.9 %

NASDAQ:ADSK opened at $321.27 on Friday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $321.90. The business’s 50-day moving average is $286.44 and its two-hundred day moving average is $254.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $69.07 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.12 EPS. Autodesk’s revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by company insiders.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.