Prelude Capital Management LLC Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Prelude Capital Management LLC purchased a new position in Autodesk, Inc. (NASDAQ:ADSKGet Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,212 shares of the software company’s stock, valued at approximately $413,000.

Other large investors also recently added to or reduced their stakes in the company. Slow Capital Inc. boosted its stake in shares of Autodesk by 0.4% in the third quarter. Slow Capital Inc. now owns 14,021 shares of the software company’s stock worth $2,619,000 after acquiring an additional 50 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in Autodesk by 8.7% during the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock worth $136,000 after purchasing an additional 51 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Autodesk by 1.0% during the third quarter. Grove Bank & Trust now owns 5,504 shares of the software company’s stock worth $1,028,000 after buying an additional 57 shares in the last quarter. Cohen Investment Advisors LLC raised its position in shares of Autodesk by 0.6% in the third quarter. Cohen Investment Advisors LLC now owns 9,279 shares of the software company’s stock valued at $1,734,000 after buying an additional 58 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Autodesk by 3.5% during the third quarter. Integrated Advisors Network LLC now owns 1,733 shares of the software company’s stock worth $324,000 after acquiring an additional 58 shares during the last quarter. 87.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Deborah Clifford sold 1,557 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $205.71, for a total value of $320,290.47. Following the sale, the chief financial officer now directly owns 19,609 shares in the company, valued at $4,033,767.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Deborah Clifford sold 1,557 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $205.71, for a total value of $320,290.47. Following the sale, the chief financial officer now owns 19,609 shares of the company’s stock, valued at $4,033,767.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ayanna Howard sold 410 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $188.67, for a total transaction of $77,354.70. Following the transaction, the director now owns 5,010 shares of the company’s stock, valued at approximately $945,236.70. The disclosure for this sale can be found here. Insiders sold a total of 3,717 shares of company stock worth $746,462 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ADSK shares. Barclays cut their price objective on shares of Autodesk from $257.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, February 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Autodesk from $255.00 to $225.00 in a research note on Wednesday, November 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $235.00 target price on shares of Autodesk in a research note on Thursday, February 23rd. Berenberg Bank assumed coverage on shares of Autodesk in a report on Wednesday, January 11th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on shares of Autodesk from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.40.

Autodesk Stock Performance

Shares of Autodesk stock opened at $197.87 on Tuesday. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 52.35, a price-to-earnings-growth ratio of 1.79 and a beta of 1.51. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.84 and a quick ratio of 0.73. The business has a 50-day moving average of $207.58 and a 200 day moving average of $202.54. Autodesk, Inc. has a 12 month low of $163.20 and a 12 month high of $235.01.

Autodesk (NASDAQ:ADSKGet Rating) last posted its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.81 by $0.05. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Autodesk, Inc. will post 4.5 earnings per share for the current year.

Autodesk declared that its board has initiated a stock buyback program on Tuesday, November 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the software company to purchase up to 11.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Autodesk Company Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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