State of New Jersey Common Pension Fund D reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 18.7% during the second quarter, Holdings Channel reports. The firm owned 82,900 shares of the software company’s stock after selling 19,100 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Autodesk were worth $8,358,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ADSK. Eastern Bank purchased a new stake in shares of Autodesk during the second quarter valued at about $211,000. Gilbert & Cook Inc. purchased a new stake in shares of Autodesk during the second quarter valued at about $212,000. Jacobs & Co. CA purchased a new stake in shares of Autodesk during the second quarter valued at about $220,000. NBT Bank N A NY purchased a new stake in shares of Autodesk during the first quarter valued at about $210,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Autodesk during the first quarter valued at about $211,000. 97.90% of the stock is owned by institutional investors.
Autodesk, Inc. (ADSK) opened at 104.98 on Friday. The firm’s market cap is $23.14 billion. The firm has a 50-day moving average of $107.17 and a 200-day moving average of $95.79. Autodesk, Inc. has a 12-month low of $60.95 and a 12-month high of $115.25.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Autodesk had a negative return on equity of 36.65% and a negative net margin of 26.99%. The firm had revenue of $485.70 million for the quarter, compared to analysts’ expectations of $470.27 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. On average, analysts expect that Autodesk, Inc. will post ($0.57) EPS for the current year.
Several brokerages have issued reports on ADSK. OTR Global downgraded shares of Autodesk to a “positive” rating in a research report on Wednesday. Evercore ISI reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a research report on Friday, May 19th. Sanford C. Bernstein began coverage on shares of Autodesk in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $137.00 price objective for the company. Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Autodesk in a research report on Wednesday, May 17th. Finally, BidaskClub downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $104.50.
In other Autodesk news, VP Paul D. Underwood sold 6,490 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.93, for a total value of $726,425.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Betsy Rafael sold 2,354 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $106.24, for a total value of $250,088.96. The disclosure for this sale can be found here. Insiders sold 170,570 shares of company stock worth $17,865,037 over the last quarter. Company insiders own 6.10% of the company’s stock.
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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