Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC grew its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 2.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 40,455 shares of the software company’s stock after buying an additional 1,023 shares during the quarter. Townsquare Capital LLC’s holdings in Autodesk were worth $11,104,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ADSK. Jag Capital Management LLC purchased a new position in Autodesk in the 3rd quarter valued at approximately $13,861,000. Cetera Investment Advisers increased its stake in Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares in the last quarter. Forsta AP Fonden increased its stake in Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after purchasing an additional 3,800 shares in the last quarter. Bank of Montreal Can increased its stake in Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after purchasing an additional 73,363 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Autodesk in the 3rd quarter valued at approximately $12,643,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Trading Down 8.6 %

Shares of ADSK opened at $290.64 on Thursday. The stock’s 50-day moving average is $289.02 and its two-hundred day moving average is $256.83. The stock has a market cap of $62.49 billion, a PE ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADSK shares. Berenberg Bank raised their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price target for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America raised their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.38.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is currently owned by insiders.

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.