Brown Capital Management LLC Has $2.02 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Brown Capital Management LLC lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 63.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,348 shares of the software company’s stock after selling 12,913 shares during the quarter. Brown Capital Management LLC’s holdings in Autodesk were worth $2,024,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings 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 purchasing an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd lifted its stake 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 worth $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp lifted its stake in Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. boosted its position in 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 acquiring an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s 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 sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADSK. Stifel Nicolaus increased their price target on shares of Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Robert W. Baird increased their price objective on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday. Rosenblatt Securities boosted their target price on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Royal Bank of Canada raised their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Piper Sandler raised their price objective on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.38.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $307.84 on Thursday. The stock has a market capitalization of $66.19 billion, a PE ratio of 62.95, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $315.73. The stock has a 50 day moving average price of $284.18 and a 200 day moving average price of $253.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. Analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Autodesk 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.