Principal Financial Group Inc. reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,588,317 shares of the software company’s stock after selling 3,492 shares during the period. Principal Financial Group Inc.’s holdings in Autodesk were worth $396,752,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in Autodesk by 20.1% in the fourth quarter. FMR LLC now owns 26,573,101 shares of the software company’s stock valued at $1,966,674,000 after buying an additional 4,455,916 shares in the last quarter. Norges Bank bought a new position in Autodesk during the fourth quarter valued at about $119,478,000. Darsana Capital Partners LP bought a new position in Autodesk during the fourth quarter valued at about $112,865,000. Fred Alger Management Inc. bought a new position in Autodesk during the fourth quarter valued at about $95,449,000. Finally, Parnassus Investments CA boosted its position in Autodesk by 62.5% in the first quarter. Parnassus Investments CA now owns 1,625,000 shares of the software company’s stock valued at $140,514,000 after buying an additional 625,010 shares in the last quarter. 97.13% of the stock is currently owned by institutional investors.
Shares of Autodesk, Inc. (NASDAQ ADSK) traded up 0.81% during midday trading on Tuesday, reaching $111.78. 1,095,556 shares of the company were exchanged. The company’s market capitalization is $24.58 billion. The stock has a 50-day moving average price of $98.59 and a 200 day moving average price of $85.96. Autodesk, Inc. has a 52-week low of $49.82 and a 52-week high of $114.68.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Autodesk had a negative net margin of 20.30% and a negative return on equity of 13.74%. The company had revenue of $485.70 million during the quarter, compared to the consensus estimate of $470.27 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts expect that Autodesk, Inc. will post ($0.57) EPS for the current fiscal year.
Several brokerages have issued reports on ADSK. Morgan Stanley raised shares of Autodesk from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $115.00 in a research note on Monday, May 1st. Wedbush raised shares of Autodesk from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $78.00 to $120.00 in a research note on Tuesday, May 9th. Credit Suisse Group AG began coverage on shares of Autodesk in a research note on Thursday, April 27th. They set an “outperform” rating and a $115.00 target price on the stock. Evercore ISI reissued a “buy” rating and set a $96.00 target price on shares of Autodesk in a research note on Wednesday, April 19th. Finally, William Blair reissued an “outperform” rating on shares of Autodesk in a research note on Sunday, May 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $103.94.
In other news, SVP Steven M. Blum sold 6,638 shares of Autodesk stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $112.71, for a total value of $748,168.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Anagnost sold 5,540 shares of Autodesk stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $86.00, for a total transaction of $476,440.00. The disclosure for this sale can be found here. In the last three months, insiders sold 131,705 shares of company stock valued at $11,494,150. Insiders own 6.20% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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