Autodesk, Inc. (ADSK) Holdings Boosted by Nordea Investment Management AB
Nordea Investment Management AB raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 11.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,102 shares of the software company’s stock after buying an additional 1,007 shares during the quarter. Nordea Investment Management AB’s holdings in Autodesk were worth $1,018,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Autodesk by 4.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock valued at $121,000 after buying an additional 44 shares during the period. Harfst & Associates Inc. bought a new position in Autodesk in the 2nd quarter valued at about $150,000. IFP Advisors Inc increased its holdings in Autodesk by 9.3% in the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock valued at $171,000 after buying an additional 145 shares during the period. Kanawha Capital Management LLC bought a new position in Autodesk in the 2nd quarter valued at about $202,000. Finally, First Personal Financial Services increased its holdings in Autodesk by 896.0% in the 2nd quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock valued at $202,000 after buying an additional 1,801 shares during the period. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have commented on ADSK shares. Zacks Investment Research lowered shares of Autodesk from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Autodesk from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Evercore ISI set a $115.00 target price on shares of Autodesk and gave the company a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG began coverage on shares of Autodesk in a report on Wednesday, July 19th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Cowen and Company raised their price target on shares of Autodesk from $115.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $118.26.
In other news, Director Lorrie M. Norrington sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $111.12, for a total transaction of $2,778,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Anagnost sold 24,004 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $112.73, for a total value of $2,705,970.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,212 shares of company stock valued at $6,742,238. Insiders own 6.10% of the company’s stock.
Autodesk, Inc. (ADSK) opened at 116.96 on Friday. Autodesk, Inc. has a 12 month low of $67.15 and a 12 month high of $119.73. The stock has a 50 day moving average of $113.08 and a 200-day moving average of $103.77. The firm’s market cap is $25.64 billion.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm 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%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Equities research analysts predict that Autodesk, Inc. will post ($0.54) earnings per share for the current fiscal year.
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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