Autodesk Inc. (ADSK) Position Boosted by Strs Ohio
Strs Ohio raised its position in shares of Autodesk Inc. (NASDAQ:ADSK) by 39.5% during the second quarter, Holdings Channel reports. The institutional investor owned 16,021 shares of the software company’s stock after buying an additional 4,539 shares during the period. Strs Ohio’s holdings in Autodesk were worth $867,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADSK. Meeder Asset Management Inc. purchased a new position in shares of Autodesk during the first quarter valued at about $109,000. Creative Planning boosted its position in shares of Autodesk by 12.4% in the second quarter. Creative Planning now owns 3,093 shares of the software company’s stock valued at $167,000 after buying an additional 341 shares during the period. Magnetar Financial LLC purchased a new position in shares of Autodesk during the first quarter valued at about $256,000. Daiwa Securities Group Inc. boosted its position in shares of Autodesk by 5.8% in the second quarter. Daiwa Securities Group Inc. now owns 5,500 shares of the software company’s stock valued at $298,000 after buying an additional 300 shares during the period. Finally, Simmons Bank purchased a new position in shares of Autodesk during the first quarter valued at about $312,000. 97.07% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk Inc. (NASDAQ:ADSK) traded up 1.86% during midday trading on Tuesday, hitting $70.13. The stock had a trading volume of 1,047,236 shares. The stock has a 50 day moving average of $69.67 and a 200 day moving average of $61.33. The stock’s market cap is $15.56 billion. Autodesk Inc. has a 12 month low of $41.60 and a 12 month high of $73.40.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.18. The firm earned $550.70 million during the quarter, compared to the consensus estimate of $511.49 million. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Analysts expect that Autodesk Inc. will post ($0.60) EPS for the current fiscal year.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Autodesk from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 4th. Evercore ISI began coverage on Autodesk in a research note on Wednesday, September 14th. They issued a “buy” rating and a $80.00 price objective on the stock. Wedbush began coverage on Autodesk in a report on Friday, September 9th. They set a “neutral” rating and a $60.00 target price for the company. Rosenblatt Securities lowered Autodesk from a “neutral” rating to a “sell” rating in a report on Tuesday, August 30th. Finally, Citigroup Inc. set a $65.00 target price on Autodesk and gave the stock a “hold” rating in a report on Sunday, August 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $67.53.
In related news, SVP Amarpreet Hanspal sold 19,015 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $62.50, for a total value of $1,188,437.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven M. Blum sold 10,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $66.00, for a total transaction of $660,000.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
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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