King Luther Capital Management Corp Acquires Shares of 741 Autodesk, Inc. (NASDAQ:ADSK)

King Luther Capital Management Corp bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, Holdings Channel reports. The firm bought 741 shares of the software company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ninety One UK Ltd lifted its position in Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 worth $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after purchasing an additional 81,314 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of 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 purchasing an additional 74,394 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Autodesk by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,632,195 shares of the software company’s stock worth $403,887,000 after purchasing an additional 6,362 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Trading Up 1.9 %

NASDAQ ADSK opened at $321.27 on Monday. Autodesk, Inc. has a one year low of $195.32 and a one year high of $321.90. 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 firm has a market cap of $69.07 billion, a P/E ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47. The stock’s 50-day moving average is $286.44 and its 200-day moving average is $255.18.

Autodesk (NASDAQ:ADSK) last announced 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. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Sell-side analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In related news, 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 sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADSK has been the subject of several research reports. Mizuho set a $260.00 target price on Autodesk in a research note on Friday, October 18th. Barclays boosted their price objective on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their price target on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $309.43.

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.