Nordea Investment Management AB lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,102 shares of the software company’s stock after acquiring an additional 1,007 shares during the period. Nordea Investment Management AB’s holdings in Autodesk were worth $1,018,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Autodesk by 4.2% in the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after buying an additional 44 shares during the period. Harfst & Associates Inc. acquired a new stake in Autodesk in the second quarter worth $150,000. IFP Advisors Inc increased its position in Autodesk by 9.3% in the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after buying an additional 145 shares during the period. Kanawha Capital Management LLC acquired a new stake in Autodesk in the second quarter worth $202,000. Finally, First Personal Financial Services increased its position in Autodesk by 896.0% in the second quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock worth $202,000 after buying an additional 1,801 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on ADSK. BidaskClub lowered Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Canaccord Genuity reissued a “buy” rating and set a $120.00 price target on shares of Autodesk in a report on Wednesday, June 21st. Evercore ISI reissued a “buy” rating and set a $135.00 price target on shares of Autodesk in a report on Wednesday, September 20th. Barclays PLC raised their price target on Autodesk from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 18th. Finally, Cowen and Company reissued a “buy” rating and set a $115.00 price target on shares of Autodesk in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $118.26.
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Shares of Autodesk, Inc. (NASDAQ:ADSK) opened at 119.54 on Tuesday. The company has a 50-day moving average price of $114.22 and a 200 day moving average price of $105.23. The stock’s market capitalization is $26.20 billion. Autodesk, Inc. has a 52 week low of $67.15 and a 52 week high of $119.84.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The business had revenue of $501.80 million for the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. Analysts forecast that Autodesk, Inc. will post ($0.54) earnings per share for the current fiscal year.
In other news, insider Andrew Anagnost sold 24,004 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $112.73, for a total transaction of $2,705,970.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Fronzo Pascal W. Di sold 580 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.91, for a total transaction of $64,327.80. The disclosure for this sale can be found here. Insiders sold 60,212 shares of company stock valued at $6,742,238 over the last quarter. 6.10% of the stock is owned by company insiders.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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