Panagora Asset Management Inc. Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Panagora Asset Management Inc. increased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 5.7% in the first quarter, Holdings Channel.com reports. The firm owned 160,167 shares of the software company’s stock after purchasing an additional 8,635 shares during the period. Panagora Asset Management Inc.’s holdings in Autodesk were worth $44,390,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Safeguard Investment Advisory Group LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at $30,000. Catalyst Capital Advisors LLC acquired a new position in Autodesk in the fourth quarter valued at $47,000. Regent Peak Wealth Advisors LLC acquired a new position in Autodesk in the fourth quarter valued at $50,000. NuWave Investment Management LLC acquired a new position in Autodesk in the first quarter valued at $50,000. Finally, Lindbrook Capital LLC boosted its holdings in Autodesk by 22.5% in the first quarter. Lindbrook Capital LLC now owns 185 shares of the software company’s stock valued at $51,000 after acquiring an additional 34 shares during the last quarter. 86.70% of the stock is owned by institutional investors and hedge funds.

In other news, CRO Steven M. Blum sold 6,772 shares of the company’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $268.90, for a total value of $1,820,990.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 593 shares of the company’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $268.91, for a total transaction of $159,463.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,232 shares of company stock worth $17,126,155. Company insiders own 0.11% of the company’s stock.

ADSK stock traded up $2.37 on Friday, reaching $279.87. The company’s stock had a trading volume of 14,052 shares, compared to its average volume of 1,303,856. The company has a market capitalization of $61.58 billion, a P/E ratio of 47.60, a P/E/G ratio of 2.87 and a beta of 1.34. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.48 and a quick ratio of 0.48. Autodesk, Inc. has a 52 week low of $215.83 and a 52 week high of $321.13. The business has a fifty day simple moving average of $285.75.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Wednesday, May 26th. The software company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Autodesk had a return on equity of 104.82% and a net margin of 33.31%. The company had revenue of $989.30 million during the quarter, compared to the consensus estimate of $964.76 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Autodesk, Inc. will post 2.78 earnings per share for the current fiscal year.

ADSK has been the topic of a number of research analyst reports. Mizuho lifted their target price on Autodesk from $325.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 28th. Canaccord Genuity restated a “buy” rating and set a $330.00 price objective (up previously from $315.00) on shares of Autodesk in a research note on Friday, May 28th. Robert W. Baird boosted their price objective on Autodesk from $342.00 to $360.00 in a research note on Wednesday, February 17th. Stifel Nicolaus started coverage on Autodesk in a research note on Tuesday, May 25th. They set a “buy” rating and a $342.00 price objective on the stock. Finally, Royal Bank of Canada restated a “buy” rating on shares of Autodesk in a research note on Monday, May 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $310.86.

Autodesk Profile

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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