LPL Financial LLC grew its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 8.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 110,630 shares of the software company’s stock after acquiring an additional 8,497 shares during the quarter. LPL Financial LLC owned about 0.05% of Autodesk worth $32,293,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in ADSK. Janus Henderson Group PLC lifted its position in shares of Autodesk by 48.8% during the 1st quarter. Janus Henderson Group PLC now owns 3,351,545 shares of the software company’s stock valued at $928,911,000 after acquiring an additional 1,099,348 shares during the period. Melvin Capital Management LP bought a new stake in shares of Autodesk during the 1st quarter worth $291,008,000. FMR LLC lifted its position in shares of Autodesk by 12.6% during the 2nd quarter. FMR LLC now owns 8,730,919 shares of the software company’s stock worth $2,548,556,000 after buying an additional 975,042 shares during the last quarter. Findlay Park Partners LLP lifted its position in shares of Autodesk by 29.8% during the 2nd quarter. Findlay Park Partners LLP now owns 2,804,587 shares of the software company’s stock worth $818,659,000 after buying an additional 643,304 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Autodesk by 13.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,581,219 shares of the software company’s stock worth $992,533,000 after buying an additional 426,130 shares during the last quarter. Hedge funds and other institutional investors own 85.14% of the company’s stock.
A number of brokerages have issued reports on ADSK. Royal Bank of Canada upped their target price on Autodesk from $340.00 to $363.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. Rosenblatt Securities upped their target price on Autodesk from $320.00 to $355.00 and gave the stock a “buy” rating in a report on Tuesday, August 24th. Stifel Nicolaus lowered their target price on Autodesk from $370.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, September 2nd. KeyCorp upped their target price on Autodesk from $345.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 19th. Finally, Mizuho reaffirmed a “buy” rating and issued a $350.00 target price (down previously from $370.00) on shares of Autodesk in a report on Thursday, September 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Autodesk presently has an average rating of “Buy” and a consensus price target of $330.11.
Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, August 24th. The software company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Autodesk had a return on equity of 69.10% and a net margin of 32.54%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Autodesk’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts anticipate that Autodesk, Inc. will post 2.89 earnings per share for the current year.
In other news, CEO Andrew Anagnost sold 23,957 shares of the company’s stock in a transaction on Thursday, August 26th. The stock was sold at an average price of $315.44, for a total value of $7,556,996.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 262 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $286.46, for a total value of $75,052.52. The disclosure for this sale can be found here. In the last three months, insiders sold 32,220 shares of company stock valued at $9,941,402. 0.11% of the stock is currently owned by corporate insiders.
Autodesk Company Profile
Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.
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