Newfound Research LLC Acquires New Position in Autodesk, Inc. (NASDAQ:ADSK)

Newfound Research LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 195 shares of the software company’s stock, valued at approximately $56,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of Autodesk by 8.9% during the second quarter. Parkside Financial Bank & Trust now owns 403 shares of the software company’s stock valued at $118,000 after buying an additional 33 shares during the period. Financial Counselors Inc. increased its position in shares of Autodesk by 3.5% in the second quarter. Financial Counselors Inc. now owns 999 shares of the software company’s stock worth $292,000 after purchasing an additional 34 shares during the last quarter. Founders Financial Alliance LLC increased its position in shares of Autodesk by 2.6% in the second quarter. Founders Financial Alliance LLC now owns 1,359 shares of the software company’s stock worth $397,000 after purchasing an additional 35 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Autodesk by 0.5% in the second quarter. Private Advisor Group LLC now owns 6,974 shares of the software company’s stock worth $2,036,000 after purchasing an additional 35 shares during the last quarter. Finally, Clarius Group LLC increased its position in shares of Autodesk by 1.5% in the second quarter. Clarius Group LLC now owns 2,570 shares of the software company’s stock worth $750,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

ADSK stock traded down $47.10 on Thursday, reaching $256.90. The company’s stock had a trading volume of 10,904,560 shares, compared to its average volume of 1,313,649. The business has a fifty day simple moving average of $301.09 and a two-hundred day simple moving average of $298.95. Autodesk, Inc. has a 12-month low of $245.05 and a 12-month high of $344.39. The firm has a market cap of $56.48 billion, a PE ratio of 43.47, a PEG ratio of 3.23 and a beta of 1.36. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.50.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 23rd. The software company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.07. Autodesk had a return on equity of 69.10% and a net margin of 32.54%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. As a group, research analysts anticipate that Autodesk, Inc. will post 2.86 earnings per share for the current fiscal year.

In other Autodesk news, CEO Andrew Anagnost sold 2,434 shares of the stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $286.18, for a total value of $696,562.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Deborah Clifford sold 5,481 shares of the firm’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total value of $1,588,448.61. The disclosure for this sale can be found here. Insiders sold 8,263 shares of company stock valued at $2,384,406 in the last ninety days. 0.11% of the stock is currently owned by insiders.

ADSK has been the topic of several research analyst reports. Mizuho decreased their price objective on shares of Autodesk from $380.00 to $330.00 and set a “buy” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Oppenheimer decreased their price objective on shares of Autodesk from $350.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday. Robert W. Baird upped their target price on Autodesk from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 17th. Rosenblatt Securities cut their target price on Autodesk from $355.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays upped their target price on Autodesk from $340.00 to $370.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Autodesk has an average rating of “Buy” and an average price target of $337.00.

Autodesk Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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