Daiwa Securities Group Inc. Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Daiwa Securities Group Inc. grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,541 shares of the software company’s stock after purchasing an additional 9,697 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Autodesk were worth $19,984,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ninety One UK Ltd lifted its position in shares of Autodesk by 28.0% in 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 acquiring an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp lifted its holdings 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 valued at $406,554,000 after purchasing an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. boosted its stake 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 during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Autodesk by 58,375.5% during the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after buying an additional 566,826 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock worth $156,296,000 after buying an additional 452,728 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ADSK. BMO Capital Markets lifted their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Barclays upped their target price on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Berenberg Bank raised their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. HSBC raised shares of Autodesk from a “hold” rating to a “buy” rating and upped their price objective for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Finally, Bank of America raised their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Price Performance

ADSK stock opened at $321.27 on Monday. The firm has a market cap of $69.07 billion, a P/E ratio of 65.70, a price-to-earnings-growth ratio of 4.03 and a beta of 1.47. 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, Inc. has a 1 year low of $195.32 and a 1 year high of $321.90. The stock has a 50-day simple moving average of $286.44 and a 200-day simple moving average of $255.18.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion for 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 quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 in the last quarter. 0.14% of the stock is owned by corporate insiders.

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.