DNB Asset Management AS Grows Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

DNB Asset Management AS lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,832 shares of the software company’s stock after buying an additional 2,458 shares during the period. DNB Asset Management AS’s holdings in Autodesk were worth $8,867,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk in the fourth quarter worth about $25,000. Concord Wealth Partners bought a new stake in Autodesk during the 1st quarter valued at approximately $25,000. New Covenant Trust Company N.A. bought a new stake in Autodesk during the 1st quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in Autodesk during the 1st quarter valued at approximately $26,000. Finally, Bfsg LLC bought a new stake in Autodesk during the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Autodesk news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,381 shares of company stock valued at $9,401,282. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp cut their price objective on Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $290.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Robert W. Baird cut their price objective on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Citigroup lifted their target price on shares of Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, StockNews.com lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $262.42.

Autodesk Stock Performance

ADSK traded up $8.51 during mid-day trading on Tuesday, reaching $234.23. 2,182,664 shares of the company traded hands, compared to its average volume of 1,707,962. The stock has a market capitalization of $50.48 billion, a P/E ratio of 50.73, a P/E/G ratio of 3.23 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average price is $235.76 and its 200-day moving average price is $240.11. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business earned $1.55 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Autodesk, Inc. will post 5.55 EPS for the current year.

Autodesk 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.