Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System raised its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 0.2% during the first quarter, HoldingsChannel.com reports. The firm owned 59,423 shares of the software company’s stock after buying an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Autodesk were worth $15,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADSK. Norges Bank acquired a new stake in shares of Autodesk during the 4th quarter valued at approximately $619,404,000. FIL Ltd increased its position in Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares during the period. Cantillon Capital Management LLC increased its position in Autodesk by 35.1% in the fourth quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock worth $414,551,000 after buying an additional 442,005 shares during the period. Baillie Gifford & Co. increased its position in Autodesk by 48.0% in the fourth quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock worth $321,910,000 after buying an additional 429,071 shares during the period. Finally, Morningstar Investment Services LLC increased its position in Autodesk by 349.8% in the fourth quarter. Morningstar Investment Services LLC now owns 491,224 shares of the software company’s stock worth $120,306,000 after buying an additional 382,026 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $247.86 on Wednesday. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The firm has a market capitalization of $53.42 billion, a PE ratio of 53.65, a PEG ratio of 3.31 and a beta of 1.48. The business’s 50 day moving average is $221.70 and its 200-day moving average is $239.15. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. Autodesk’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 EPS. Sell-side analysts predict that Autodesk, Inc. will post 5.55 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now directly owns 31,566 shares of the company’s stock, valued at $7,418,010. The disclosure for this sale can be found here. Insiders sold 19,138 shares of company stock worth $4,338,701 in the last 90 days. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

ADSK has been the topic of several analyst reports. Robert W. Baird dropped their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Stifel Nicolaus decreased their target price on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $239.00 target price on shares of Autodesk in a report on Wednesday, June 12th. KeyCorp reduced their target price on Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Finally, Barclays reduced their price objective on Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $262.42.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.