Primecap Management Co. CA Purchases 24,920 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Primecap Management Co. CA boosted its position in Autodesk, Inc. (NASDAQ:ADSK) by 3.8% during the third quarter, HoldingsChannel reports. The fund owned 680,820 shares of the software company’s stock after buying an additional 24,920 shares during the quarter. Primecap Management Co. CA’s holdings in Autodesk were worth $187,552,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the first quarter valued at about $25,000. LRI Investments LLC purchased a new position in shares of Autodesk during the first quarter worth about $26,000. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the third quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the third quarter worth about $28,000. Finally, Concord Wealth Partners purchased a new position in shares of Autodesk during the third quarter worth about $28,000. 90.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. KeyCorp boosted their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday. DA Davidson assumed coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Oppenheimer boosted their price objective on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus upped their target price on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities upped their target price on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.38.

Autodesk Price Performance

ADSK opened at $307.84 on Thursday. The stock has a fifty day simple moving average of $284.18 and a two-hundred day simple moving average of $253.46. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market cap of $66.19 billion, a price-to-earnings ratio of 62.95, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $315.73.

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

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction 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 sale, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,280 shares of company stock valued at $5,232,213. 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.