Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Autodesk, Inc. (NASDAQ:ADSK) by 59.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 40,968 shares of the software company’s stock after acquiring an additional 15,348 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Autodesk were worth $10,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Autodesk in the fourth quarter worth about $25,000. Concord Wealth Partners acquired a new position in Autodesk in the 1st quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in Autodesk during the first quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk in the first quarter valued at approximately $26,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk in the second quarter valued at approximately $26,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of Autodesk stock opened at $268.00 on Thursday. The stock has a market capitalization of $57.62 billion, a price-to-earnings ratio of 58.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50-day moving average of $250.88 and a 200 day moving average of $239.70. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of research analyst reports. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley boosted their price objective on Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Piper Sandler raised their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Rosenblatt Securities boosted their price target on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Citigroup lifted their target price on shares of Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.17.

Insiders Place Their Bets

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 value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders sold a total of 38,687 shares of company stock worth $10,027,986 over the last 90 days. 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.