Legato Capital Management LLC Lowers Holdings in Autodesk, Inc. $ADSK

Legato Capital Management LLC trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 90.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,306 shares of the software company’s stock after selling 12,469 shares during the period. Legato Capital Management LLC’s holdings in Autodesk were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Catalyst Financial Partners LLC grew its position in Autodesk by 3.8% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,023 shares of the software company’s stock valued at $325,000 after buying an additional 37 shares during the last quarter. Piscataqua Savings Bank boosted its position in shares of Autodesk by 33.3% during the 4th quarter. Piscataqua Savings Bank now owns 160 shares of the software company’s stock worth $47,000 after purchasing an additional 40 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its position in shares of Autodesk by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 4,267 shares of the software company’s stock worth $1,263,000 after purchasing an additional 41 shares in the last quarter. Keybank National Association OH boosted its position in shares of Autodesk by 0.8% during the 3rd quarter. Keybank National Association OH now owns 5,403 shares of the software company’s stock worth $1,716,000 after purchasing an additional 42 shares in the last quarter. Finally, Trust Point Inc. boosted its position in shares of Autodesk by 3.3% during the 4th quarter. Trust Point Inc. now owns 1,322 shares of the software company’s stock worth $391,000 after purchasing an additional 42 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Jefferies upgraded Autodesk to “strong-buy”, citing expectations for a modest revenue beat driven by continued execution in core design and construction software. Zacks.com
• Positive Sentiment: Analysts expect Autodesk to post a first-quarter earnings beat and likely reaffirm full-year guidance, which would reinforce confidence in management’s outlook. Autodesk expected to deliver first quarter earnings beat, in-line outlook
• Positive Sentiment: Autodesk’s AI and cloud momentum remains a key bullish driver, and a Zacks comparison article argued Autodesk has the edge over Adobe on growth estimates and year-to-date performance. Adobe vs. Autodesk: Which Creative Software Stock is the Better Buy?
• Neutral Sentiment: Autodesk is expected to report a modest revenue beat, but management may present an in-line outlook rather than a major raise, which could limit upside if expectations are already high. Autodesk expected to deliver first quarter earnings beat, in-line outlook
• Neutral Sentiment: A new research update with Dodge Construction Network suggests North America is still behind in DfMA adoption, but the market is poised for growth, which supports Autodesk’s long-term opportunity without changing near-term fundamentals. North America Lags in Productization and DfMA Adoption, but Momentum Is Building
• Negative Sentiment: Heading into earnings, investors remain cautious that Autodesk’s sales-optimization changes could weigh on subscription billings, creating some uncertainty around near-term revenue quality. Autodesk to Report Q1 Earnings: What’s in the Cards for the Stock?

Autodesk Price Performance

Autodesk stock opened at $237.00 on Thursday. Autodesk, Inc. has a 12-month low of $214.10 and a 12-month high of $329.09. The firm’s 50-day moving average is $239.10 and its two-hundred day moving average is $261.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $50.04 billion, a P/E ratio of 45.23, a P/E/G ratio of 1.54 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.21. Autodesk had a net margin of 15.60% and a return on equity of 53.51%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company posted $2.29 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts predict that Autodesk, Inc. will post 9.35 earnings per share for the current year.

Wall Street Analyst Weigh In

ADSK has been the topic of several research analyst reports. Oppenheimer decreased their target price on shares of Autodesk from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Morgan Stanley decreased their target price on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Autodesk from $319.00 to $336.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Rosenblatt Securities decreased their target price on shares of Autodesk from $375.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company cut their price target on Autodesk from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $330.96.

About Autodesk

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.