Tybourne Capital Management HK Ltd. Invests $1.88 Million in Autodesk, Inc. (NASDAQ:ADSK)

Tybourne Capital Management HK Ltd. purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,832 shares of the software company’s stock, valued at approximately $1,882,000. Autodesk comprises 0.5% of Tybourne Capital Management HK Ltd.’s investment portfolio, making the stock its 24th largest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in Autodesk in the 1st quarter valued at about $25,000. LRI Investments LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in Autodesk in the third quarter worth approximately $28,000. Finally, Concord Wealth Partners purchased a new position in Autodesk during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp increased their price target on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Mizuho increased their price objective on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Bank of America boosted their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Stock Down 8.6 %

NASDAQ:ADSK opened at $290.64 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a market cap of $62.49 billion, a PE ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47. The company’s 50 day moving average is $289.02 and its two-hundred day moving average is $256.83.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share. Analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

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.