Sumitomo Mitsui DS Asset Management Company Ltd Raises Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Autodesk, Inc. (NASDAQ:ADSKGet Rating) by 7.4% during the second quarter, HoldingsChannel.com reports. The firm owned 15,665 shares of the software company’s stock after buying an additional 1,082 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Autodesk were worth $2,694,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Heartland Consultants Inc. purchased a new stake in shares of Autodesk in the 2nd quarter valued at about $841,000. Diversified Trust Co raised its holdings in shares of Autodesk by 5.3% during the 2nd quarter. Diversified Trust Co now owns 2,499 shares of the software company’s stock valued at $430,000 after buying an additional 125 shares in the last quarter. Sky Investment Group LLC raised its holdings in shares of Autodesk by 4.1% during the 2nd quarter. Sky Investment Group LLC now owns 7,080 shares of the software company’s stock valued at $1,217,000 after buying an additional 280 shares in the last quarter. WP Advisors LLC raised its holdings in shares of Autodesk by 6.7% during the 2nd quarter. WP Advisors LLC now owns 1,430 shares of the software company’s stock valued at $246,000 after buying an additional 90 shares in the last quarter. Finally, Canandaigua National Corp raised its holdings in shares of Autodesk by 30.2% during the 2nd quarter. Canandaigua National Corp now owns 11,537 shares of the software company’s stock valued at $1,984,000 after buying an additional 2,676 shares in the last quarter. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADSK shares. Deutsche Bank Aktiengesellschaft raised their price objective on Autodesk from $225.00 to $255.00 in a report on Thursday, August 25th. Wolfe Research began coverage on Autodesk in a research report on Tuesday, August 16th. They set an “outperform” rating and a $270.00 price target on the stock. Barclays lifted their price objective on Autodesk from $263.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 25th. Rosenblatt Securities cut their price objective on Autodesk from $285.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. Finally, Morgan Stanley dropped their price target on Autodesk from $258.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.90.

Autodesk Stock Performance

NASDAQ:ADSK opened at $187.15 on Friday. The stock has a 50-day simple moving average of $208.54 and a two-hundred day simple moving average of $198.83. Autodesk, Inc. has a 52-week low of $163.20 and a 52-week high of $335.48. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $40.40 billion, a PE ratio of 73.97, a P/E/G ratio of 2.40 and a beta of 1.53.

Autodesk (NASDAQ:ADSKGet Rating) last released its quarterly earnings results on Wednesday, August 24th. The software company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.08. Autodesk had a return on equity of 88.57% and a net margin of 11.76%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. Autodesk’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts forecast that Autodesk, Inc. will post 4.13 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 327 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $177.43, for a total transaction of $58,019.61. Following the completion of the sale, the chief accounting officer now owns 4,186 shares of the company’s stock, valued at $742,721.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares of the company’s stock, valued at $15,922,370.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 327 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $177.43, for a total value of $58,019.61. Following the completion of the transaction, the chief accounting officer now directly owns 4,186 shares of the company’s stock, valued at approximately $742,721.98. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

Autodesk Profile

(Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

See Also

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:ADSKGet Rating).

Institutional Ownership by Quarter for Autodesk (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.