Zurich Insurance Group Ltd FI grew its position in Autodesk, Inc. (NASDAQ:ADSK) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 45,512 shares of the software company’s stock after buying an additional 1,825 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Autodesk were worth $5,966,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Institutional & Family Asset Management LLC purchased a new position in Autodesk in the first quarter worth about $100,000. Alpha Windward LLC purchased a new position in shares of Autodesk during the second quarter valued at approximately $102,000. Smithfield Trust Co. purchased a new position in shares of Autodesk during the second quarter valued at approximately $116,000. IHT Wealth Management LLC raised its holdings in shares of Autodesk by 1,142.2% during the first quarter. IHT Wealth Management LLC now owns 1,031 shares of the software company’s stock valued at $127,000 after purchasing an additional 948 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in shares of Autodesk by 58.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,331 shares of the software company’s stock valued at $174,000 after purchasing an additional 489 shares during the last quarter. 95.98% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Wedbush reissued a “neutral” rating and set a $137.00 price objective on shares of Autodesk in a report on Friday, May 25th. CIBC boosted their price objective on shares of Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Oppenheimer boosted their price objective on shares of Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, August 24th. BidaskClub raised shares of Autodesk from a “hold” rating to a “buy” rating in a report on Friday, July 6th. Finally, Zacks Investment Research cut shares of Autodesk from a “hold” rating to a “sell” rating in a report on Thursday, May 31st. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $161.63.
In other Autodesk news, Director Lorrie M. Norrington sold 5,001 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $156.75, for a total transaction of $783,906.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.
Shares of ADSK stock opened at $151.17 on Monday. Autodesk, Inc. has a 12 month low of $101.55 and a 12 month high of $159.94. The company has a market cap of $32.96 billion, a price-to-earnings ratio of -94.42, a price-to-earnings-growth ratio of 105.44 and a beta of 1.82. The company has a debt-to-equity ratio of -6.57, a current ratio of 0.83 and a quick ratio of 0.83.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 23rd. The software company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. Autodesk had a negative net margin of 18.52% and a negative return on equity of 3,087.49%. The business had revenue of $612.00 million during the quarter, compared to analysts’ expectations of $600.36 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. research analysts predict that Autodesk, Inc. will post 0.06 earnings per share for the current year.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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