Trillium Asset Management LLC Cuts Stake in Autodesk, Inc. (ADSK)
Trillium Asset Management LLC lowered its position in Autodesk, Inc. (NASDAQ:ADSK) by 13.5% during the second quarter, Holdings Channel reports. The institutional investor owned 122,924 shares of the software company’s stock after selling 19,164 shares during the period. Trillium Asset Management LLC’s holdings in Autodesk were worth $12,393,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in ADSK. IFP Advisors Inc raised its position in Autodesk by 9.3% in the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after buying an additional 145 shares in the last quarter. Kanawha Capital Management LLC bought a new position in Autodesk during the second quarter worth about $202,000. Sigma Investment Counselors Inc. bought a new position in Autodesk during the second quarter worth about $208,000. Eastern Bank bought a new position in Autodesk during the second quarter worth about $211,000. Finally, Teacher Retirement System of Texas bought a new position in Autodesk during the second quarter worth about $212,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk, Inc. (ADSK) opened at 108.01 on Monday. Autodesk, Inc. has a 12 month low of $60.95 and a 12 month high of $115.25. The firm’s market capitalization is $23.80 billion. The company’s 50 day moving average price is $107.20 and its 200 day moving average price is $95.98.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. The business had revenue of $485.70 million during the quarter, compared to analysts’ expectations of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted ($0.10) earnings per share. Analysts anticipate that Autodesk, Inc. will post ($0.57) EPS for the current year.
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A number of equities analysts recently issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating and set a $138.00 price target (up previously from $137.00) on shares of Autodesk in a report on Friday. BidaskClub lowered Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday. OTR Global lowered Autodesk to a “positive” rating in a report on Wednesday, August 9th. Evercore ISI reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a report on Friday, May 19th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Autodesk in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $104.55.
In related news, SVP Steven M. Blum sold 6,638 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $112.71, for a total transaction of $748,168.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul D. Underwood sold 6,490 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $111.93, for a total transaction of $726,425.70. The disclosure for this sale can be found here. Insiders have sold 167,705 shares of company stock valued at $17,590,771 over the last 90 days. 6.10% of the stock is currently owned by insiders.
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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