Exchange Capital Management Inc. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Exchange Capital Management Inc. bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,846 shares of the software company’s stock, valued at approximately $481,000.

A number of other hedge funds also recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Autodesk during the fourth quarter worth $25,000. Bfsg LLC acquired a new position in shares of Autodesk during the fourth quarter worth $27,000. Rakuten Securities Inc. acquired a new position in shares of Autodesk during the fourth quarter worth $28,000. Private Wealth Management Group LLC acquired a new position in shares of Autodesk during the fourth quarter worth $31,000. Finally, First United Bank & Trust acquired a new position in shares of Autodesk during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the topic of several research reports. Barclays cut their target price on Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Berenberg Bank downgraded Autodesk from a “buy” rating to a “hold” rating and set a $295.00 target price on the stock. in a research report on Wednesday, May 1st. StockNews.com downgraded Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. KeyCorp cut their target price on Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Finally, Stifel Nicolaus cut their target price on Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $262.42.

Autodesk Trading Up 0.8 %

ADSK stock opened at $247.86 on Wednesday. The company’s 50-day simple moving average is $221.70 and its 200-day simple moving average is $239.15. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The firm has a market cap of $53.42 billion, a P/E ratio of 53.83, a PEG ratio of 3.31 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted $1.55 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the transaction, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the sale, the director now owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The disclosure for this sale can be found here. Insiders have sold a total of 19,138 shares of company stock valued at $4,338,701 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

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.