Jennison Associates LLC Buys New Stake in Autodesk, Inc. (NASDAQ:ADSK)

Jennison Associates LLC bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,957 shares of the software company’s stock, valued at approximately $843,000.

Several other hedge funds have also bought and sold shares of the stock. Boston Private Wealth LLC grew its holdings in shares of Autodesk by 13.5% in the third quarter. Boston Private Wealth LLC now owns 1,604 shares of the software company’s stock valued at $458,000 after purchasing an additional 191 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Autodesk by 5,857.1% in the third quarter. First Horizon Advisors Inc. now owns 1,251 shares of the software company’s stock valued at $230,000 after purchasing an additional 1,230 shares in the last quarter. Wilkins Investment Counsel Inc. grew its holdings in shares of Autodesk by 43.7% in the third quarter. Wilkins Investment Counsel Inc. now owns 11,454 shares of the software company’s stock valued at $3,266,000 after purchasing an additional 3,484 shares in the last quarter. Avestar Capital LLC grew its holdings in shares of Autodesk by 8.7% in the third quarter. Avestar Capital LLC now owns 7,584 shares of the software company’s stock valued at $2,163,000 after purchasing an additional 606 shares in the last quarter. Finally, Commerce Bank grew its holdings in shares of Autodesk by 5.2% in the third quarter. Commerce Bank now owns 36,562 shares of the software company’s stock valued at $10,427,000 after purchasing an additional 1,821 shares in the last quarter. 86.87% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Andrew Anagnost sold 4,724 shares of the business’s stock in a transaction dated Friday, December 3rd. The stock was sold at an average price of $256.27, for a total transaction of $1,210,619.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Stephen W. Hope sold 109 shares of the business’s stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $262.88, for a total value of $28,653.92. The disclosure for this sale can be found here. Insiders sold 5,109 shares of company stock worth $1,311,749 in the last quarter. 0.11% of the stock is owned by insiders.

A number of research analysts recently weighed in on the stock. Oppenheimer cut their target price on shares of Autodesk from $350.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, November 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Autodesk from $370.00 to $330.00 and set a “buy” rating for the company in a research report on Monday, November 29th. KeyCorp lowered their price target on Autodesk from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, November 24th. Guggenheim restated a “hold” rating on shares of Autodesk in a research report on Thursday, November 25th. Finally, Mizuho lowered their price target on Autodesk from $380.00 to $330.00 and set a “buy” rating for the company in a research report on Wednesday, November 24th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $333.31.

ADSK opened at $259.10 on Friday. The business’s 50-day moving average is $282.53 and its two-hundred day moving average is $296.06. Autodesk, Inc. has a 1 year low of $245.05 and a 1 year high of $344.39. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $56.99 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 2.54 and a beta of 1.41.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 23rd. The software company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.07. Autodesk had a return on equity of 51.01% and a net margin of 31.31%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Autodesk, Inc. will post 2.93 EPS for the current year.

Autodesk Company 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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