Autodesk, Inc. (ADSK) Stake Lowered by GAM Holding AG
GAM Holding AG decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,342 shares of the software company’s stock after selling 1,239 shares during the period. GAM Holding AG’s holdings in Autodesk were worth $2,051,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ADSK. BlackRock Inc. raised its position in Autodesk by 3,291.0% in the first quarter. BlackRock Inc. now owns 15,261,046 shares of the software company’s stock worth $1,319,622,000 after buying an additional 14,810,994 shares during the last quarter. FMR LLC raised its position in Autodesk by 13.9% in the first quarter. FMR LLC now owns 30,271,360 shares of the software company’s stock worth $2,617,565,000 after buying an additional 3,698,259 shares during the last quarter. Wellington Management Group LLP raised its position in Autodesk by 104.4% in the first quarter. Wellington Management Group LLP now owns 4,725,602 shares of the software company’s stock worth $408,622,000 after buying an additional 2,413,134 shares during the last quarter. Vanguard Group Inc. raised its position in Autodesk by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,951,299 shares of the software company’s stock worth $1,725,188,000 after buying an additional 633,999 shares during the last quarter. Finally, Parnassus Investments CA raised its position in Autodesk by 62.5% in the first quarter. Parnassus Investments CA now owns 1,625,000 shares of the software company’s stock worth $140,514,000 after buying an additional 625,010 shares during the last quarter. 94.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Autodesk, Inc. (NASDAQ:ADSK) opened at 111.48 on Tuesday. Autodesk, Inc. has a 12-month low of $65.06 and a 12-month high of $119.73. The stock’s 50 day moving average price is $109.09 and its 200 day moving average price is $97.98. The firm’s market capitalization is $24.47 billion.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million during the quarter, compared to analyst estimates of $493.98 million. Autodesk had a negative return on equity of 60.14% and a negative net margin of 30.01%. Autodesk’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. Equities research analysts expect that Autodesk, Inc. will post ($0.54) earnings per share for the current year.
ADSK has been the topic of a number of recent analyst reports. Morgan Stanley raised Autodesk from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $69.00 to $115.00 in a report on Monday, May 1st. Wedbush raised Autodesk from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $78.00 to $120.00 in a report on Tuesday, May 9th. Zacks Investment Research lowered Autodesk from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BidaskClub raised Autodesk from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Finally, William Blair reissued an “outperform” rating on shares of Autodesk in a report on Sunday, May 21st. Two investment analysts have 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 stock. The stock currently has an average rating of “Buy” and an average price target of $113.19.
In other news, Director Carl Bass sold 42,297 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $101.72, for a total transaction of $4,302,450.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 35,595 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $111.84, for a total value of $3,980,944.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,705 shares of company stock valued at $17,590,771. Company 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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