Assenagon Asset Management S.A. Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Posted by Defense World Staff on Mar 23rd, 2023

Assenagon Asset Management S.A. raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 951.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,245 shares of the software company’s stock after buying an additional 67,182 shares during the period. Assenagon Asset Management S.A.’s holdings in Autodesk were worth $13,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TD Capital Management LLC purchased a new stake in shares of Autodesk in the third quarter worth $30,000. First Manhattan Co. increased its stake in shares of Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Riverview Trust Co increased its stake in shares of Autodesk by 189.2% in the third quarter. Riverview Trust Co now owns 188 shares of the software company’s stock worth $35,000 after purchasing an additional 123 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of Autodesk in the first quarter worth $36,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Autodesk by 346.9% in the second quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after purchasing an additional 170 shares in the last quarter. 87.89% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Autodesk stock opened at $198.38 on Thursday. The firm has a 50-day moving average price of $209.03 and a 200-day moving average price of $202.40. The firm has a market capitalization of $42.61 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 1.84 and a beta of 1.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.99. Autodesk, Inc. has a 12-month low of $163.20 and a 12-month high of $235.01.

Autodesk (NASDAQ:ADSK – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk, Inc. will post 4.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Autodesk from $255.00 to $225.00 in a research note on Wednesday, November 23rd. Stifel Nicolaus raised their target price on shares of Autodesk from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 target price on shares of Autodesk in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of Autodesk from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Finally, Piper Sandler raised their target price on shares of Autodesk from $236.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, February 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.40.

Insider Activity at Autodesk

In related news, Director Betsy Rafael sold 309 shares of Autodesk stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $190.96, for a total transaction of $59,006.64. Following the completion of the sale, the director now owns 5,433 shares in the company, valued at approximately $1,037,485.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Autodesk news, Director Ayanna Howard sold 410 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $184.49, for a total transaction of $75,640.90. Following the transaction, the director now owns 4,600 shares of the company’s stock, valued at approximately $848,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Betsy Rafael sold 309 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $190.96, for a total transaction of $59,006.64. Following the transaction, the director now directly owns 5,433 shares in the company, valued at approximately $1,037,485.68. The disclosure for this sale can be found here. Insiders sold 3,307 shares of company stock worth $669,107 in the last 90 days. 0.11% of the stock is owned by corporate insiders.

Autodesk Company Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.