Brookstone Capital Management cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 15.0% in the 2nd quarter, Holdings Channel reports. The firm owned 1,204 shares of the software company’s stock after selling 212 shares during the period. Brookstone Capital Management’s holdings in Autodesk were worth $243,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Autodesk by 2.4% during the first quarter. BlackRock Inc. now owns 17,097,545 shares of the software company’s stock valued at $3,559,025,000 after acquiring an additional 394,268 shares during the period. State Street Corp increased its stake in Autodesk by 2.8% in the 1st quarter. State Street Corp now owns 8,623,556 shares of the software company’s stock valued at $1,795,073,000 after buying an additional 235,484 shares during the period. Ninety One UK Ltd increased its stake in Autodesk by 1.8% in the 1st quarter. Ninety One UK Ltd now owns 4,406,367 shares of the software company’s stock valued at $917,229,000 after buying an additional 77,844 shares during the period. Geode Capital Management LLC increased its stake in Autodesk by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 3,993,264 shares of the software company’s stock valued at $829,485,000 after buying an additional 66,959 shares during the period. Finally, Bank of America Corp DE increased its stake in Autodesk by 18.2% in the 1st quarter. Bank of America Corp DE now owns 3,967,076 shares of the software company’s stock valued at $825,786,000 after buying an additional 610,230 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ADSK has been the topic of several research reports. Barclays upped their price objective on shares of Autodesk from $225.00 to $233.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Oppenheimer reiterated an “outperform” rating and issued a $250.00 price objective on shares of Autodesk in a research note on Thursday, August 24th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of Autodesk in a research note on Friday, September 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Autodesk from $225.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, Robert W. Baird increased their price target on shares of Autodesk from $230.00 to $239.00 and gave the stock an “outperform” rating in a research note on Monday, August 14th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.28.
Insider Buying and Selling at Autodesk
In other Autodesk news, CEO Andrew Anagnost sold 22,318 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $221.90, for a total value of $4,952,364.20. Following the completion of the sale, the chief executive officer now directly owns 99,327 shares of the company’s stock, valued at approximately $22,040,661.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Rebecca Pearce sold 115 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $220.00, for a total transaction of $25,300.00. Following the completion of the transaction, the executive vice president now directly owns 22,857 shares of the company’s stock, valued at approximately $5,028,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Anagnost sold 22,318 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $221.90, for a total transaction of $4,952,364.20. Following the transaction, the chief executive officer now directly owns 99,327 shares of the company’s stock, valued at $22,040,661.30. The disclosure for this sale can be found here. Insiders sold a total of 27,707 shares of company stock valued at $6,139,461 in the last ninety days. Company insiders own 0.14% of the company’s stock.
Autodesk Price Performance
NASDAQ ADSK opened at $204.04 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.89. The company has a fifty day simple moving average of $211.16 and a 200 day simple moving average of $204.54. The company has a market cap of $43.62 billion, a P/E ratio of 50.51, a P/E/G ratio of 2.76 and a beta of 1.49. Autodesk, Inc. has a 1 year low of $179.61 and a 1 year high of $233.69.
Autodesk (NASDAQ:ADSK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 23rd. The software company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.18. Autodesk had a net margin of 16.77% and a return on equity of 90.61%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $1.04 EPS. Autodesk’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Autodesk, Inc. will post 4.68 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.
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