Autodesk, Inc. (NASDAQ:ADSK) Stake Lessened by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,818 shares of the software company’s stock after selling 1,322 shares during the period. Melqart Asset Management UK Ltd’s holdings in Autodesk were worth $5,770,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Safeguard Investment Advisory Group LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $30,000. NuWave Investment Management LLC purchased a new stake in shares of Autodesk in the 1st quarter valued at approximately $50,000. Lindbrook Capital LLC lifted its position in shares of Autodesk by 22.5% in the 1st quarter. Lindbrook Capital LLC now owns 185 shares of the software company’s stock valued at $51,000 after acquiring an additional 34 shares in the last quarter. Evoke Wealth LLC lifted its position in shares of Autodesk by 84.6% in the 1st quarter. Evoke Wealth LLC now owns 192 shares of the software company’s stock valued at $53,000 after acquiring an additional 88 shares in the last quarter. Finally, Reilly Financial Advisors LLC purchased a new stake in shares of Autodesk in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 86.43% of the company’s stock.

Several research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Autodesk from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. Stifel Nicolaus assumed coverage on shares of Autodesk in a research note on Tuesday, May 25th. They issued a “buy” rating and a $342.00 price objective on the stock. Rosenblatt Securities initiated coverage on shares of Autodesk in a research note on Monday, June 7th. They issued a “buy” rating and a $320.00 price objective on the stock. Canaccord Genuity restated a “buy” rating and set a $330.00 price target (up previously from $315.00) on shares of Autodesk in a research note on Friday, May 28th. Finally, Morgan Stanley increased their price target on shares of Autodesk from $266.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Friday, May 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $312.40.

Autodesk stock traded up $6.32 during mid-day trading on Thursday, reaching $308.10. The company had a trading volume of 30,135 shares, compared to its average volume of 981,496. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.45. Autodesk, Inc. has a 52 week low of $215.83 and a 52 week high of $321.13. The stock’s 50 day simple moving average is $285.98. The stock has a market cap of $67.79 billion, a price-to-earnings ratio of 52.83, a price-to-earnings-growth ratio of 3.04 and a beta of 1.33.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Wednesday, May 26th. The software company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The company had revenue of $989.30 million during the quarter, compared to the consensus estimate of $964.76 million. Autodesk had a net margin of 33.31% and a return on equity of 104.82%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. On average, equities research analysts predict that Autodesk, Inc. will post 2.78 EPS for the current year.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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