Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by DNB Asset Management AS

DNB Asset Management AS lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 35,832 shares of the software company’s stock after buying an additional 2,458 shares during the period. DNB Asset Management AS’s holdings in Autodesk were worth $8,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock worth $5,052,732,000 after buying an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Autodesk by 263.6% in the 1st 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 purchasing an additional 4,563,668 shares during the last quarter. FIL Ltd lifted its position in Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after purchasing an additional 479,559 shares during the last quarter. Brown Advisory Inc. boosted its stake in Autodesk by 12.9% during the 4th quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock valued at $696,342,000 after purchasing an additional 327,144 shares during the period. Finally, Norges Bank bought a new position in Autodesk in the 4th quarter worth about $619,404,000. Institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the sale, the director now owns 31,016 shares in the company, valued at approximately $7,857,283.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now owns 31,016 shares in the company, valued at $7,857,283.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction 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 $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 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Up 3.8 %

Shares of Autodesk stock traded up $8.51 during trading on Tuesday, hitting $234.23. 2,182,664 shares of the stock traded hands, compared to its average volume of 1,707,962. The company has a fifty day moving average price of $235.76 and a two-hundred day moving average price of $240.11. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The stock has a market cap of $50.48 billion, a P/E ratio of 50.73, a PEG ratio of 3.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADSK. Piper Sandler reiterated a “neutral” rating and set a $239.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Robert W. Baird lowered their price target on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. Berenberg Bank downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a report on Wednesday, May 1st. StockNews.com cut Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of Autodesk in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $262.42.

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.