Ninety One SA PTY Ltd Grows Position in Autodesk, Inc. (NASDAQ:ADSK)

Ninety One SA PTY Ltd grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,472 shares of the software company’s stock after acquiring an additional 4,689 shares during the quarter. Autodesk accounts for approximately 2.4% of Ninety One SA PTY Ltd’s portfolio, making the stock its 11th largest holding. Ninety One SA PTY Ltd’s holdings in Autodesk were worth $11,076,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADSK. Czech National Bank increased its position in shares of Autodesk by 7.7% during the 3rd quarter. Czech National Bank now owns 43,888 shares of the software company’s stock valued at $12,090,000 after purchasing an additional 3,125 shares during the last quarter. GAMMA Investing LLC increased its holdings in Autodesk by 26.8% during the third quarter. GAMMA Investing LLC now owns 4,653 shares of the software company’s stock worth $1,282,000 after buying an additional 984 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in Autodesk in the third quarter worth about $749,000. Aprio Wealth Management LLC boosted its stake in Autodesk by 8.8% in the third quarter. Aprio Wealth Management LLC now owns 998 shares of the software company’s stock valued at $275,000 after acquiring an additional 81 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Autodesk by 95.6% during the 3rd quarter. Atomi Financial Group Inc. now owns 2,077 shares of the software company’s stock valued at $572,000 after acquiring an additional 1,015 shares during the period. Institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the topic of a number of research reports. UBS Group assumed coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 price target on the stock. Scotiabank initiated coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. Stifel Nicolaus lifted their price objective on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company upped their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, KeyCorp lifted their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.77.

Autodesk Stock Up 0.2 %

ADSK stock opened at $306.85 on Wednesday. The company’s 50 day moving average is $298.81 and its 200 day moving average is $279.99. The stock has a market cap of $65.97 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 3.67 and a beta of 1.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Autodesk Company Profile

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.