LGT Group Foundation Acquires New Stake in Autodesk, Inc. (NASDAQ:ADSK)

LGT Group Foundation acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the first quarter, according to its most recent filing with the SEC. The firm acquired 355 shares of the software company’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADSK. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk in the fourth quarter valued at $25,000. Concord Wealth Partners acquired a new stake in Autodesk in the first quarter valued at $25,000. Bfsg LLC acquired a new stake in Autodesk in the fourth quarter valued at $27,000. Rakuten Securities Inc. acquired a new stake in Autodesk in the fourth quarter valued at $28,000. Finally, Eagle Bay Advisors LLC lifted its holdings in Autodesk by 217.1% in the first quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock valued at $29,000 after acquiring an additional 76 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley reissued an “equal weight” rating and issued a $255.00 target price on shares of Autodesk in a report on Wednesday, June 12th. Robert W. Baird reduced their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price target on shares of Autodesk in a research note on Tuesday, June 18th. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a research report on Wednesday, May 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $290.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $262.42.

Insider Transactions at Autodesk

In other news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the sale, the director now owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,381 shares of company stock worth $9,401,282 in the last three months. Company insiders own 0.14% of the company’s stock.

Autodesk Trading Down 0.1 %

NASDAQ:ADSK traded down $0.29 on Friday, reaching $241.94. The stock had a trading volume of 220,995 shares, compared to its average volume of 1,701,804. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 52.43, a P/E/G ratio of 3.20 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s fifty day moving average is $232.85 and its two-hundred day moving average is $240.13. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.10. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. Equities analysts expect that Autodesk, Inc. will post 5.55 EPS for the current fiscal 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.