Frontier Capital Management Co. LLC purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 600,162 shares of the software company’s stock, valued at approximately $93,517,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in shares of Autodesk by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 22,839,276 shares of the software company’s stock worth $3,565,439,000 after acquiring an additional 128,028 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Autodesk by 0.8% during the 4th quarter. BlackRock Inc. now owns 17,305,793 shares of the software company’s stock worth $2,225,700,000 after acquiring an additional 132,973 shares during the last quarter. Geode Capital Management LLC lifted its stake in Autodesk by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock worth $368,471,000 after purchasing an additional 214,397 shares during the last quarter. Brown Advisory Inc. lifted its stake in Autodesk by 7.0% in the fourth quarter. Brown Advisory Inc. now owns 2,773,645 shares of the software company’s stock worth $356,718,000 after purchasing an additional 182,278 shares during the last quarter. Finally, Sustainable Growth Advisers LP lifted its stake in Autodesk by 2.2% in the fourth quarter. Sustainable Growth Advisers LP now owns 2,713,336 shares of the software company’s stock worth $348,962,000 after purchasing an additional 59,175 shares during the last quarter. Hedge funds and other institutional investors own 95.60% of the company’s stock.
Autodesk stock traded up $7.88 during midday trading on Thursday, reaching $177.84. 304,227 shares of the company traded hands, compared to its average volume of 1,721,323. The company has a market cap of $36.31 billion, a price-to-earnings ratio of 1,616.73, a price-to-earnings-growth ratio of 2.46 and a beta of 1.95. Autodesk, Inc. has a 12 month low of $117.72 and a 12 month high of $178.95.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 28th. The software company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $737.30 million for the quarter, compared to the consensus estimate of $707.09 million. During the same quarter last year, the company earned ($0.09) EPS. As a group, equities research analysts predict that Autodesk, Inc. will post 1.76 earnings per share for the current fiscal year.
In related news, Director Crawford W. Beveridge sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $152.90, for a total transaction of $152,900.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Fronzo Pascal W. Di sold 8,839 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,458,435.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,577 shares of company stock worth $9,509,716. 0.12% of the stock is owned by insiders.
ADSK has been the subject of several recent research reports. TheStreet raised shares of Autodesk from a “d” rating to a “c” rating in a research note on Thursday, February 28th. Argus boosted their price target on shares of Autodesk to $184.00 and gave the company an “average” rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Credit Suisse Group boosted their price target on shares of Autodesk from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Deutsche Bank boosted their price target on shares of Autodesk to $180.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. Finally, Bank of America reiterated a “neutral” rating and set a $169.00 price target (up previously from $149.00) on shares of Autodesk in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $173.49.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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