Advisors Asset Management Inc. decreased its stake in shares of Autodesk Inc. (NASDAQ:ADSK) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,941 shares of the software company’s stock after selling 1,107 shares during the period. Advisors Asset Management Inc.’s holdings in Autodesk were worth $592,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Autodesk by 15.5% in the first quarter. IFP Advisors Inc now owns 1,715 shares of the software company’s stock valued at $100,000 after buying an additional 230 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Autodesk during the first quarter valued at about $109,000. Howard Hughes Medical Institute acquired a new position in shares of Autodesk during the second quarter valued at about $113,000. Creative Planning raised its position in shares of Autodesk by 12.4% in the second quarter. Creative Planning now owns 3,093 shares of the software company’s stock valued at $167,000 after buying an additional 341 shares during the period. Finally, RMB Capital Management LLC raised its position in shares of Autodesk by 10.0% in the first quarter. RMB Capital Management LLC now owns 3,908 shares of the software company’s stock valued at $228,000 after buying an additional 354 shares during the period. Institutional investors and hedge funds own 97.07% of the company’s stock.
Autodesk Inc. (NASDAQ:ADSK) traded down 0.64% on Monday, hitting $71.21. 876,822 shares of the company traded hands. The stock’s 50-day moving average is $65.67 and its 200 day moving average is $59.64. The stock’s market cap is $15.80 billion. Autodesk Inc. has a 12 month low of $41.60 and a 12 month high of $72.62.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The firm had revenue of $550.70 million for the quarter, compared to analyst estimates of $511.49 million. During the same period last year, the business earned $0.19 EPS. Autodesk’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts expect that Autodesk Inc. will post ($0.60) earnings per share for the current fiscal year.
Several brokerages have issued reports on ADSK. Citigroup Inc. set a $65.00 target price on Autodesk and gave the company a “hold” rating in a research report on Sunday, August 28th. Cowen and Company boosted their target price on Autodesk from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Wedbush boosted their target price on Autodesk to $60.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Robert W. Baird boosted their target price on Autodesk from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Finally, Pacific Crest reaffirmed an “equal weight” rating and set a $81.00 price target on shares of Autodesk in a research note on Tuesday, July 12th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Autodesk presently has a consensus rating of “Hold” and an average target price of $66.98.
In other Autodesk news, CEO Carl Bass sold 26,209 shares of the firm’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $56.00, for a total transaction of $1,467,704.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 5,109 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $60.87, for a total transaction of $310,984.83. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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