Seven Bridges Advisors LLC Acquires 1,099 Shares of Autodesk Inc. (ADSK)
Seven Bridges Advisors LLC raised its position in Autodesk Inc. (NASDAQ:ADSK) by 13.2% during the second quarter, Holdings Channel reports. The firm owned 9,419 shares of the software company’s stock after buying an additional 1,099 shares during the period. Seven Bridges Advisors LLC’s holdings in Autodesk were worth $510,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of ADSK. IFP Advisors Inc raised its stake in shares of Autodesk by 15.5% in the first quarter. IFP Advisors Inc now owns 1,715 shares of the software company’s stock worth $100,000 after buying an additional 230 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Autodesk during the first quarter worth about $109,000. Creative Planning raised its stake in shares of Autodesk by 12.4% in the second quarter. Creative Planning now owns 3,093 shares of the software company’s stock worth $167,000 after buying an additional 341 shares during the period. RMB Capital Management LLC raised its stake in shares of Autodesk by 10.0% in the first quarter. RMB Capital Management LLC now owns 3,908 shares of the software company’s stock worth $228,000 after buying an additional 354 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Autodesk during the first quarter worth about $256,000. Institutional investors own 97.19% of the company’s stock.
Autodesk Inc. (NASDAQ:ADSK) traded up 0.97% during midday trading on Tuesday, hitting $68.79. The stock had a trading volume of 1,693,430 shares. Autodesk Inc. has a 12-month low of $41.60 and a 12-month high of $69.57. The company has a 50-day moving average price of $64.48 and a 200-day moving average price of $59.36. The company’s market cap is $15.26 billion.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.18. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. The company had revenue of $550.70 million for the quarter, compared to analyst estimates of $511.49 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue was down 9.6% compared to the same quarter last year. Equities analysts anticipate that Autodesk Inc. will post ($0.60) EPS for the current year.
ADSK has been the topic of a number of recent research reports. Barclays PLC upped their target price on shares of Autodesk from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 26th. Rosenblatt Securities restated a “sell” rating and set a $54.00 target price on shares of Autodesk in a research note on Thursday, August 25th. Cowen and Company upped their target price on shares of Autodesk from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, August 26th. Evercore ISI initiated coverage on shares of Autodesk in a research note on Wednesday, September 14th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Autodesk from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.09.
In other Autodesk news, Director Betsy Rafael sold 4,416 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $67.80, for a total value of $299,404.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carl Bass sold 26,209 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $56.00, for a total value of $1,467,704.00. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.
Autodesk Company Profile
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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