CVA Family Office LLC Grows Holdings in Autodesk, Inc. (NASDAQ:ADSK)

CVA Family Office LLC grew its stake in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 111.8% during the third quarter, Holdings Channel.com reports. The fund owned 341 shares of the software company’s stock after acquiring an additional 180 shares during the period. CVA Family Office LLC’s holdings in Autodesk were worth $64,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Manhattan Co. raised its stake in shares of Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after acquiring an additional 120 shares during the period. TD Capital Management LLC purchased a new stake in shares of Autodesk in the 3rd quarter valued at approximately $30,000. Riverview Trust Co grew its holdings in shares of Autodesk by 189.2% in the third quarter. Riverview Trust Co now owns 188 shares of the software company’s stock valued at $35,000 after purchasing an additional 123 shares in the last quarter. Worth Asset Management LLC acquired a new position in shares of Autodesk in the first quarter valued at approximately $36,000. Finally, MV Capital Management Inc. grew its holdings in shares of Autodesk by 94.3% in the third quarter. MV Capital Management Inc. now owns 206 shares of the software company’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. 87.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADSK. JPMorgan Chase & Co. dropped their price objective on shares of Autodesk from $203.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, February 27th. KeyCorp lifted their price objective on shares of Autodesk from $237.00 to $244.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Barclays dropped 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. Bank of America lifted their price objective on shares of Autodesk from $225.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Finally, Berenberg Bank assumed coverage on shares of Autodesk in a report on Wednesday, January 11th. They set a “buy” rating and a $230.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $232.40.

Autodesk Stock Up 2.5 %

Shares of NASDAQ:ADSK opened at $200.59 on Friday. The company has a market capitalization of $43.28 billion, a PE ratio of 53.07, a P/E/G ratio of 1.83 and a beta of 1.51. The company has a current ratio of 0.84, a quick ratio of 0.73 and a debt-to-equity ratio of 1.99. Autodesk, Inc. has a twelve month low of $163.20 and a twelve month high of $235.01. The firm has a 50 day simple moving average of $208.39 and a 200-day simple moving average of $202.42.

Autodesk (NASDAQ:ADSK – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, topping 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 the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that Autodesk, Inc. will post 4.49 EPS for the current fiscal year.

Autodesk declared that its Board of Directors has approved a share buyback program on Tuesday, November 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the software company to buy up to 11.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Autodesk

In related news, CAO Stephen W. Hope sold 394 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $195.66, for a total value of $77,090.04. Following the completion of the sale, the chief accounting officer now owns 3,074 shares in the company, valued at approximately $601,458.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Ayanna Howard sold 410 shares of the company’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $184.49, for a total value of $75,640.90. Following the completion of the sale, the director now owns 4,600 shares in the company, valued at approximately $848,654. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 394 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $195.66, for a total transaction of $77,090.04. Following the transaction, the chief accounting officer now owns 3,074 shares of the company’s stock, valued at approximately $601,458.84. The disclosure for this sale can be found here. Insiders sold a total of 3,717 shares of company stock worth $746,462 in the last 90 days. 0.11% of the stock is owned by insiders.

Autodesk 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.