Autodesk, Inc. (ADSK) is Meritage Group LP’s 5th Largest Position

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Meritage Group LP trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 10.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,890,078 shares of the software company’s stock after selling 216,163 shares during the quarter. Autodesk accounts for about 4.1% of Meritage Group LP’s holdings, making the stock its 5th largest position. Meritage Group LP owned about 0.86% of Autodesk worth $247,770,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Advisor Partners LLC raised its stake in shares of Autodesk by 6.9% during the 2nd quarter. Advisor Partners LLC now owns 6,564 shares of the software company’s stock valued at $860,000 after purchasing an additional 423 shares during the period. HL Financial Services LLC increased its stake in Autodesk by 8.3% in the 2nd quarter. HL Financial Services LLC now owns 5,544 shares of the software company’s stock worth $727,000 after acquiring an additional 425 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Autodesk by 58.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,331 shares of the software company’s stock worth $174,000 after acquiring an additional 489 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Autodesk by 53.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,417 shares of the software company’s stock worth $186,000 after acquiring an additional 492 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in Autodesk by 1.1% in the 2nd quarter. Stephens Investment Management Group LLC now owns 43,789 shares of the software company’s stock worth $5,705,000 after acquiring an additional 494 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub upgraded Autodesk from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Oppenheimer upped their target price on Autodesk from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Canaccord Genuity upped their target price on Autodesk from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. CIBC upped their target price on Autodesk from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Finally, Credit Suisse Group upped their target price on Autodesk from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $161.63.

In related news, SVP Fronzo Pascal W. Di sold 7,185 shares of the stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $138.78, for a total transaction of $997,134.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lorrie M. Norrington sold 5,001 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $156.75, for a total value of $783,906.75. The disclosure for this sale can be found here. Insiders sold a total of 12,536 shares of company stock valued at $1,829,390 over the last quarter. Company insiders own 0.14% of the company’s stock.

ADSK opened at $149.33 on Thursday. Autodesk, Inc. has a 12-month low of $101.55 and a 12-month high of $159.94. The company has a debt-to-equity ratio of -6.57, a current ratio of 0.83 and a quick ratio of 0.92. The stock has a market capitalization of $33.74 billion, a PE ratio of -93.33, a PEG ratio of 105.54 and a beta of 1.82.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 23rd. The software company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The firm had revenue of $612.00 million during the quarter, compared to analysts’ expectations of $600.36 million. During the same period in the prior year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. equities research analysts expect that Autodesk, Inc. will post 0.06 EPS for the current year.

Autodesk Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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