Primecap Management Co. CA Reduces Stock Position in Autodesk, Inc. $ADSK

Primecap Management Co. CA decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 670,900 shares of the software company’s stock after selling 10,060 shares during the period. Primecap Management Co. CA’s holdings in Autodesk were worth $213,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Autodesk by 2.2% during the third quarter. Vanguard Group Inc. now owns 21,414,239 shares of the software company’s stock worth $6,802,661,000 after purchasing an additional 450,724 shares during the last quarter. State Street Corp grew its holdings in Autodesk by 1.8% in the second quarter. State Street Corp now owns 10,086,995 shares of the software company’s stock valued at $3,122,631,000 after purchasing an additional 174,247 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Autodesk by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 5,831,447 shares of the software company’s stock valued at $1,805,241,000 after buying an additional 88,066 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Autodesk by 15.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,606,264 shares of the software company’s stock worth $1,730,415,000 after buying an additional 734,449 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Autodesk by 18.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,544,520 shares of the software company’s stock worth $1,125,988,000 after buying an additional 564,136 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Up 1.8%

Shares of NASDAQ ADSK opened at $224.86 on Thursday. Autodesk, Inc. has a 1 year low of $215.01 and a 1 year high of $329.09. The firm’s 50 day moving average price is $263.43 and its 200 day moving average price is $290.54. The firm has a market cap of $47.67 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 0.82.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 25th. The software company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.17. Autodesk had a return on equity of 52.06% and a net margin of 16.09%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm posted $2.17 EPS. Autodesk’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ADSK. UBS Group dropped their target price on shares of Autodesk from $400.00 to $290.00 and set a “buy” rating for the company in a report on Monday. Arete Research increased their price target on shares of Autodesk from $430.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Citigroup dropped their price objective on shares of Autodesk from $382.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Oppenheimer cut their price objective on Autodesk from $375.00 to $325.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, BTIG Research initiated coverage on Autodesk in a report on Tuesday, December 16th. They set a “buy” rating and a $365.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $347.89.

Autodesk Company Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.