Quantbot Technologies LP Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Quantbot Technologies LP lessened its position in Autodesk, Inc. (NASDAQ:ADSK) by 69.6% during the third quarter, Holdings Channel.com reports. The fund owned 2,100 shares of the software company’s stock after selling 4,806 shares during the period. Quantbot Technologies LP’s holdings in Autodesk were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in shares of Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after acquiring an additional 245,816 shares in the last quarter. Legal & General Group Plc lifted its stake in Autodesk by 4.0% in the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after acquiring an additional 81,314 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Autodesk by 4.5% in the third quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company’s stock valued at $491,673,000 after acquiring an additional 74,394 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Mizuho raised their target price on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Berenberg Bank raised their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Citigroup increased their target price on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday. Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a report on Friday. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $316.68.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by insiders.

Autodesk Trading Up 1.6 %

NASDAQ:ADSK opened at $296.65 on Tuesday. The company has a 50 day simple moving average of $289.93 and a two-hundred day simple moving average of $258.15. The company has a market cap of $63.78 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 earnings per share. Research analysts forecast that Autodesk, Inc. will post 5.79 earnings per share for the current year.

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.