Argus Investors Counsel Inc. lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 97.4% during the second quarter, Holdings Channel.com reports. The firm owned 6,210 shares of the software company’s stock after buying an additional 3,064 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Autodesk were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ADSK. FMR LLC lifted its position in Autodesk by 2.2% during the first quarter. FMR LLC now owns 9,039,419 shares of the software company’s stock valued at $1,408,523,000 after acquiring an additional 190,871 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Autodesk by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock valued at $368,471,000 after acquiring an additional 214,397 shares during the last quarter. Northern Trust Corp increased its position in shares of Autodesk by 0.6% during the first quarter. Northern Trust Corp now owns 2,612,677 shares of the software company’s stock valued at $407,106,000 after acquiring an additional 14,972 shares during the last quarter. Norges Bank acquired a new stake in shares of Autodesk during the fourth quarter valued at about $302,827,000. Finally, Egerton Capital UK LLP grew its holdings in shares of Autodesk by 30.4% in the first quarter. Egerton Capital UK LLP now owns 2,228,779 shares of the software company’s stock valued at $347,288,000 after purchasing an additional 519,100 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.
ADSK traded down $0.62 on Tuesday, hitting $169.74. The company had a trading volume of 938,168 shares, compared to its average volume of 1,731,893. The stock’s fifty day simple moving average is $167.42. Autodesk, Inc. has a 1-year low of $117.72 and a 1-year high of $178.95. The company has a market capitalization of $37.28 billion, a PE ratio of 1,543.09, a price-to-earnings-growth ratio of 2.68 and a beta of 1.81.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The business had revenue of $735.50 million during the quarter, compared to the consensus estimate of $740.14 million. Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The business’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, sell-side analysts forecast that Autodesk, Inc. will post 1.66 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Citigroup downgraded shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $92.00 to $99.00 in a research note on Monday. Wedbush set a $79.00 price objective on shares of Aimmune Therapeutics and gave the stock a “buy” rating in a research report on Friday, May 24th. Zacks Investment Research upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a research report on Monday, June 3rd. Credit Suisse Group boosted their price objective on shares of Conagra Brands from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. Autodesk presently has a consensus rating of “Buy” and a consensus price target of $173.95.
In other news, CEO Andrew Anagnost sold 2,434 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $169.47, for a total transaction of $412,489.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Betsy Rafael sold 2,039 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $157.83, for a total value of $321,815.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,773 shares of company stock worth $1,109,297. 0.12% of the stock is owned by insiders.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
Further Reading: Dividend Yield
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