Autodesk, Inc. (NASDAQ:ADSK) Position Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,208 shares of the software company’s stock after acquiring an additional 120 shares during the period. State of Alaska Department of Revenue’s holdings in Autodesk were worth $6,043,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Autodesk by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,038,677 shares of the software company’s stock worth $4,635,537,000 after purchasing an additional 310,081 shares during the period. FIL Ltd boosted its holdings in shares of Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after acquiring an additional 479,559 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Autodesk by 12.9% during the fourth quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock valued at $696,342,000 after acquiring an additional 327,144 shares during the period. Norges Bank bought a new stake in Autodesk during the fourth quarter worth approximately $619,404,000. Finally, Morgan Stanley lifted its position in Autodesk by 4.5% in the third quarter. Morgan Stanley now owns 2,378,796 shares of the software company’s stock worth $492,197,000 after purchasing an additional 102,035 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADSK. BMO Capital Markets lowered their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 12th. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price target on shares of Autodesk in a research report on Tuesday, June 18th. Robert W. Baird reduced their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Bank of America lowered their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $290.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $262.42.

Insider Buying and Selling at Autodesk

In related news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now directly owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now directly owns 31,566 shares in the company, valued at $7,418,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders sold 19,138 shares of company stock valued at $4,338,701 in the last quarter. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Down 0.6 %

Shares of Autodesk stock opened at $246.30 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The stock has a 50-day moving average price of $222.30 and a 200 day moving average price of $239.19. The company has a market cap of $53.08 billion, a P/E ratio of 53.31, a P/E/G ratio of 3.31 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts expect that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Autodesk 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.