Autodesk, Inc. (NASDAQ:ADSK) Holdings Lifted by OV Management LLC

OV Management LLC boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,384 shares of the software company’s stock after buying an additional 61 shares during the quarter. Autodesk accounts for approximately 1.1% of OV Management LLC’s investment portfolio, making the stock its 28th largest position. OV Management LLC’s holdings in Autodesk were worth $1,580,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd raised its position in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the period. FIL Ltd raised its position in Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Autodesk by 12.9% in the 4th quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock worth $696,342,000 after acquiring an additional 327,144 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADSK. Barclays lifted their target price on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Bank of America boosted their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. BMO Capital Markets increased their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Stifel Nicolaus boosted their price target on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities increased their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Stock Performance

NASDAQ:ADSK opened at $263.96 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50-day moving average is $248.36 and its 200-day moving average is $239.33. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The company has a market cap of $56.75 billion, a price-to-earnings ratio of 57.13, a PEG ratio of 3.29 and a beta of 1.48.

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

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The disclosure for this sale can be found here. Insiders sold a total of 38,762 shares of company stock worth $10,029,527 over the last quarter. Company insiders own 0.14% of the company’s stock.

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.