Curi RMB Capital LLC Grows Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Curi RMB Capital LLC grew its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,625 shares of the software company’s stock after purchasing an additional 59 shares during the period. Curi RMB Capital LLC’s holdings in Autodesk were worth $448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADSK. Jag Capital Management LLC acquired a new stake in Autodesk in the 3rd quarter worth about $13,861,000. Cetera Investment Advisers lifted its holdings in shares of Autodesk by 163.4% during the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after acquiring an additional 38,196 shares during the period. Forsta AP Fonden boosted its position in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock worth $14,215,000 after acquiring an additional 3,800 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Autodesk by 32.0% in the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after purchasing an additional 3,259 shares during the period. Finally, Primecap Management Co. CA increased its position in Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after purchasing an additional 49,500 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America lifted their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. DA Davidson initiated coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price target for the company. Citigroup set a $325.00 price objective on Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company initiated coverage on Autodesk in a report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 target price for the company. Finally, Oppenheimer raised their price target on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $296.20.

Autodesk Trading Down 2.4 %

ADSK opened at $299.15 on Friday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $315.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $64.32 billion, a PE ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47. The firm’s fifty day moving average price is $281.32 and its 200 day moving average price is $251.23.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. As a group, research analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by insiders.

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.