Pacad Investment Ltd. Takes Position in Autodesk, Inc. (ADSK)
Pacad Investment Ltd. bought a new position in Autodesk, Inc. (NASDAQ:ADSK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,507 shares of the software company’s stock, valued at approximately $2,168,000.
A number of other institutional investors have also modified their holdings of ADSK. British Columbia Investment Management Corp boosted its position in shares of Autodesk by 11.8% in the first quarter. British Columbia Investment Management Corp now owns 112,143 shares of the software company’s stock worth $9,697,000 after buying an additional 11,871 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Autodesk during the first quarter worth about $656,000. Bank of Nova Scotia boosted its position in Autodesk by 931.6% in the first quarter. Bank of Nova Scotia now owns 44,700 shares of the software company’s stock worth $3,865,000 after buying an additional 40,367 shares during the last quarter. Private Asset Management Inc. boosted its position in Autodesk by 1.6% in the second quarter. Private Asset Management Inc. now owns 36,782 shares of the software company’s stock worth $3,708,000 after buying an additional 570 shares during the last quarter. Finally, Glaxis Capital Management LLC purchased a new position in Autodesk during the second quarter worth about $2,189,000. Institutional investors own 94.26% of the company’s stock.
Autodesk, Inc. (NASDAQ ADSK) traded up 0.04% during midday trading on Thursday, reaching $113.34. 230,751 shares of the company traded hands. Autodesk, Inc. has a one year low of $65.06 and a one year high of $119.73. The company has a 50 day moving average price of $109.09 and a 200-day moving average price of $97.98. The stock’s market capitalization is $24.88 billion.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $493.98 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. Analysts forecast that Autodesk, Inc. will post ($0.54) EPS for the current fiscal year.
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A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of Autodesk from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Royal Bank Of Canada boosted their price objective on shares of Autodesk from $87.00 to $95.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 17th. Zacks Investment Research cut shares of Autodesk from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. KeyCorp boosted their price objective on shares of Autodesk from $115.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, August 25th. Finally, Wedbush restated an “outperform” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Autodesk in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $116.35.
In related news, insider Andrew Anagnost sold 24,004 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $112.73, for a total transaction of $2,705,970.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl Bass sold 42,297 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $101.72, for a total transaction of $4,302,450.84. The disclosure for this sale can be found here. Insiders have sold 191,709 shares of company stock worth $20,296,742 over the last 90 days. Insiders own 6.10% of the company’s stock.
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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