SRS Investment Management LLC cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 65.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 486,589 shares of the software company’s stock after selling 937,989 shares during the period. Autodesk comprises 1.7% of SRS Investment Management LLC’s portfolio, making the stock its 10th biggest position. SRS Investment Management LLC’s holdings in Autodesk were worth $79,265,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ADSK. FMR LLC increased its holdings in shares of Autodesk by 2.2% in the 1st quarter. FMR LLC now owns 9,039,419 shares of the software company’s stock valued at $1,408,523,000 after acquiring an additional 190,871 shares during the period. Brown Advisory Inc. grew its stake in Autodesk by 13.9% during the 2nd quarter. Brown Advisory Inc. now owns 3,152,280 shares of the software company’s stock worth $513,507,000 after buying an additional 384,266 shares during the last quarter. Invesco Ltd. grew its stake in Autodesk by 2.3% during the 2nd quarter. Invesco Ltd. now owns 3,060,683 shares of the software company’s stock worth $498,585,000 after buying an additional 67,647 shares during the last quarter. Egerton Capital UK LLP grew its stake in Autodesk by 21.7% during the 2nd quarter. Egerton Capital UK LLP now owns 2,712,880 shares of the software company’s stock worth $441,928,000 after buying an additional 484,101 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Autodesk by 3.7% during the 2nd quarter. Northern Trust Corp now owns 2,709,360 shares of the software company’s stock worth $441,355,000 after buying an additional 96,683 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.
In other Autodesk news, CAO Stephen W. Hope sold 856 shares of Autodesk stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $152.25, for a total transaction of $130,326.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.12% of the company’s stock.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, August 27th. The software company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.04). Autodesk had a negative return on equity of 59.32% and a net margin of 1.95%. The firm had revenue of $796.80 million for the quarter, compared to analyst estimates of $788.00 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts anticipate that Autodesk, Inc. will post 1.51 earnings per share for the current year.
ADSK has been the topic of several research analyst reports. Oppenheimer dropped their target price on Autodesk from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. ValuEngine upgraded Autodesk from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Griffin Securities dropped their target price on Autodesk from $193.00 to $184.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Deutsche Bank downgraded Autodesk from a “buy” rating to a “hold” rating and dropped their target price for the stock from $180.00 to $165.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada dropped their target price on Autodesk to $175.00 and set a “positive” rating on the stock in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Autodesk has a consensus rating of “Buy” and an average target price of $169.48.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
See Also: Initial Coin Offering (ICO)
Want to see what other hedge funds are holding ADSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autodesk, Inc. (NASDAQ:ADSK).
Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.