Cedar Capital LLC Takes $207,000 Position in Autodesk, Inc. (ADSK)
Cedar Capital LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,843 shares of the software company’s stock, valued at approximately $207,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Autodesk by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after buying an additional 466,724 shares during the period. BlackRock Inc. grew its stake in shares of Autodesk by 4.8% during the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after buying an additional 735,647 shares during the period. American Century Companies Inc. grew its stake in shares of Autodesk by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 3,043,473 shares of the software company’s stock valued at $341,660,000 after buying an additional 364,994 shares during the period. Franklin Resources Inc. grew its stake in shares of Autodesk by 18.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock valued at $281,589,000 after buying an additional 436,261 shares during the period. Finally, Fred Alger Management Inc. grew its stake in shares of Autodesk by 52.3% during the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after buying an additional 829,021 shares during the period. 94.75% of the stock is owned by institutional investors.
Shares of Autodesk, Inc. (ADSK) traded up $0.71 during trading hours on Friday, hitting $123.11. 929,400 shares of the company were exchanged, compared to its average volume of 1,301,348. Autodesk, Inc. has a twelve month low of $68.06 and a twelve month high of $126.44. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.02.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The firm had revenue of $501.80 million during the quarter, compared to analysts’ expectations of $493.98 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Autodesk’s quarterly revenue was down 8.9% on a year-over-year basis. equities analysts expect that Autodesk, Inc. will post -1.38 earnings per share for the current fiscal year.
In other Autodesk news, SVP Fronzo Pascal W. Di sold 580 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $110.91, for a total value of $64,327.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Fronzo Pascal W. Di sold 19,577 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total transaction of $2,447,125.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,789 shares of company stock valued at $9,189,363. 6.10% of the stock is owned by insiders.
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ADSK has been the subject of several research reports. Cowen and Company reissued a “buy” rating and set a $115.00 price objective on shares of Autodesk in a research note on Friday, August 18th. Berenberg Bank initiated coverage on shares of Autodesk in a research note on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and set a $125.00 price objective (up from $120.00) on shares of Autodesk in a research note on Friday, August 25th. Evercore ISI restated an “outperform” rating and set a $135.00 target price on shares of Autodesk in a report on Friday, August 25th. Finally, Credit Suisse Group lifted their target price on shares of Autodesk from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $118.26.
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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