State of Tennessee Treasury Department Boosts Position in Autodesk, Inc. (ADSK)
State of Tennessee Treasury Department boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 36.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,047 shares of the software company’s stock after acquiring an additional 19,558 shares during the quarter. State of Tennessee Treasury Department’s holdings in Autodesk were worth $7,364,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in Autodesk by 0.3% during the second quarter. Brighton Jones LLC now owns 5,736 shares of the software company’s stock valued at $578,000 after acquiring an additional 17 shares during the last quarter. Tdam USA Inc. grew its holdings in Autodesk by 0.3% during the second quarter. Tdam USA Inc. now owns 7,695 shares of the software company’s stock valued at $780,000 after purchasing an additional 20 shares during the period. Cleararc Capital Inc. grew its holdings in Autodesk by 0.4% during the first quarter. Cleararc Capital Inc. now owns 4,796 shares of the software company’s stock valued at $415,000 after purchasing an additional 21 shares during the period. Tyers Asset Management LLC grew its holdings in Autodesk by 0.7% during the first quarter. Tyers Asset Management LLC now owns 4,464 shares of the software company’s stock valued at $386,000 after purchasing an additional 32 shares during the period. Finally, Elkfork Partners LLC grew its holdings in Autodesk by 0.7% during the first quarter. Elkfork Partners LLC now owns 6,138 shares of the software company’s stock valued at $531,000 after purchasing an additional 44 shares during the period. Institutional investors own 94.26% of the company’s stock.
In related news, Director Carl Bass sold 13,377 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $99.95, for a total transaction of $1,337,031.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Anagnost sold 24,004 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $112.73, for a total transaction of $2,705,970.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,986 shares of company stock valued at $14,061,542. Insiders own 6.10% of the company’s stock.
ADSK has been the subject of several recent research reports. Evercore ISI reissued an “outperform” rating and set a $115.00 price target on shares of Autodesk in a report on Wednesday, June 21st. Cowen and Company reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a research note on Friday, August 18th. Berenberg Bank assumed coverage on Autodesk in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $136.00 price objective for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Autodesk in a research note on Friday, August 25th. Finally, BidaskClub lowered Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $116.35.
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Shares of Autodesk, Inc. (ADSK) opened at 114.44 on Friday. The stock has a 50 day moving average price of $110.83 and a 200-day moving average price of $99.85. Autodesk, Inc. has a 52-week low of $65.06 and a 52-week high of $119.73. The firm’s market cap is $25.12 billion.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $501.80 million during the quarter, compared to the consensus estimate of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. On average, equities analysts anticipate that Autodesk, Inc. will post ($0.55) EPS for the current fiscal year.
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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