BDF Gestion Acquires New Shares in Autodesk, Inc. (NASDAQ:ADSK)

BDF Gestion acquired a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,113 shares of the software company’s stock, valued at approximately $4,235,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after purchasing an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Autodesk by 263.6% during the 1st 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 buying an additional 4,563,668 shares during the last quarter. FIL Ltd increased its position in Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Autodesk by 12.9% in the fourth quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock worth $696,342,000 after acquiring an additional 327,144 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Autodesk in the fourth quarter valued at $619,404,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 0.5 %

Shares of Autodesk stock traded up $1.15 during trading hours on Friday, hitting $240.44. 876,393 shares of the company’s stock traded hands, compared to its average volume of 1,691,887. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a market cap of $51.82 billion, a PE ratio of 51.79, a PEG ratio of 3.23 and a beta of 1.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a 50 day simple moving average of $237.50 and a 200-day simple moving average of $239.95.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. Equities research analysts anticipate that Autodesk, Inc. will post 5.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADSK. BMO Capital Markets cut their price objective on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Bank of America reduced their price target on Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $239.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. KeyCorp dropped their target price on Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Finally, Berenberg Bank lowered Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price target on the stock. in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $262.42.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now directly owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the sale, the director now owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders have sold a total of 39,381 shares of company stock valued at $9,401,282 in the last quarter. Insiders own 0.14% of the company’s stock.

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.