Legal & General Group Plc Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Legal & General Group Plc increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,117,357 shares of the software company’s stock after buying an additional 81,314 shares during the quarter. Legal & General Group Plc owned 0.98% of Autodesk worth $523,940,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in Autodesk during the first quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in shares of Autodesk in the first quarter worth $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Autodesk in the fourth quarter worth $25,000. Finally, Olistico Wealth LLC purchased a new position in shares of Autodesk in the second quarter worth $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADSK shares. Mizuho boosted their price target on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Citigroup boosted their price target on shares of Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada boosted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Rosenblatt Securities boosted their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $290.47.

Autodesk Stock Down 0.5 %

Shares of Autodesk stock opened at $271.90 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The firm’s 50-day moving average is $251.85 and its two-hundred day moving average is $240.13. The stock has a market cap of $58.60 billion, a price-to-earnings ratio of 58.85, a PEG ratio of 3.41 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $1.12 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,687 shares of company stock worth $10,027,986. Corporate insiders own 0.14% of the company’s stock.

Autodesk Company Profile

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.