Berkshire Asset Management LLC PA Has $722,000 Stake in Autodesk, Inc. (ADSK)
Berkshire Asset Management LLC PA lowered its position in Autodesk, Inc. (NASDAQ:ADSK) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,163 shares of the software company’s stock after selling 700 shares during the period. Berkshire Asset Management LLC PA’s holdings in Autodesk were worth $722,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. acquired a new position in Autodesk during the second quarter worth approximately $212,000. Jacobs & Co. CA acquired a new position in Autodesk during the second quarter worth approximately $220,000. NBT Bank N A NY acquired a new position in Autodesk during the first quarter worth approximately $210,000. Venturi Wealth Management LLC acquired a new position in Autodesk during the first quarter worth approximately $211,000. Finally, Joel Isaacson & Co. LLC acquired a new position in Autodesk during the first quarter worth approximately $216,000. 97.39% of the stock is owned by institutional investors.
Autodesk, Inc. (ADSK) traded up 0.66% on Wednesday, reaching $113.00. 733,362 shares of the company traded hands. The stock’s market capitalization is $24.90 billion. The firm has a 50 day moving average of $106.35 and a 200-day moving average of $93.32. Autodesk, Inc. has a one year low of $56.80 and a one year high of $114.68.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $485.70 million during the quarter, compared to the consensus estimate of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. On average, analysts anticipate that Autodesk, Inc. will post ($0.57) EPS for the current year.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Autodesk from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Deutsche Bank AG assumed coverage on shares of Autodesk in a report on Wednesday, July 19th. They set a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research downgraded shares of Autodesk from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Evercore ISI set a $115.00 price objective on shares of Autodesk and gave the stock a “buy” rating in a report on Wednesday, July 19th. Finally, Sanford C. Bernstein assumed coverage on shares of Autodesk in a report on Wednesday, May 24th. They set an “outperform” rating and a $137.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $104.50.
In other Autodesk news, VP Paul D. Underwood sold 6,490 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $111.93, for a total transaction of $726,425.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Bass sold 13,377 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $99.95, for a total transaction of $1,337,031.15. The disclosure for this sale can be found here. Insiders have sold a total of 170,570 shares of company stock valued at $17,865,037 in the last three months. Insiders own 6.10% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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