MBB Public Markets I LLC Purchases New Shares in Autodesk, Inc. (NASDAQ:ADSK)

MBB Public Markets I LLC acquired a new position in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,480 shares of the software company’s stock, valued at approximately $3,583,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares during the period. Ninety One UK Ltd raised its holdings in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares in the last quarter. Finally, FIL Ltd grew its holdings in shares of Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after purchasing an additional 479,559 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the transaction, the director now directly owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the completion of the sale, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The disclosure for this sale can be found here. Insiders have sold a total of 38,687 shares of company stock valued at $10,027,986 over the last 90 days. 0.14% of the stock is owned by insiders.

Autodesk Stock Performance

Shares of ADSK stock opened at $271.90 on Friday. The firm has a market capitalization of $58.60 billion, a price-to-earnings ratio of 58.85, a PEG ratio of 3.41 and a beta of 1.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $251.85 and its 200-day moving average price is $240.13. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.12 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ADSK. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Oppenheimer increased their price target on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Stifel Nicolaus boosted their price objective on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, DA Davidson assumed coverage on Autodesk in a report on Friday. They issued a “neutral” rating and a $260.00 target price on the stock. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

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.