Autodesk, Inc. (NASDAQ:ADSK) Shares Acquired by TCW Group Inc.

TCW Group Inc. raised its position in Autodesk, Inc. (NASDAQ:ADSK) by 0.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,971 shares of the software company’s stock after purchasing an additional 112 shares during the period. TCW Group Inc.’s holdings in Autodesk were worth $6,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Autodesk in the 1st quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Autodesk during the first quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in Autodesk during the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Autodesk during the fourth quarter worth approximately $25,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk during the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Trading Down 0.8 %

NASDAQ ADSK traded down $1.98 during trading hours on Friday, hitting $248.23. 1,075,389 shares of the company’s stock were exchanged, compared to its average volume of 1,669,282. The business’s 50 day moving average is $241.44 and its 200-day moving average is $239.49. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The firm has a market capitalization of $53.50 billion, a P/E ratio of 53.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. As a group, analysts anticipate that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mary T. Mcdowell sold 1,100 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders have sold 39,931 shares of company stock worth $9,537,781 in the last three months. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp reduced their price objective on Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Berenberg Bank cut Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a research note on Wednesday, May 1st. Mizuho dropped their target price on Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Tuesday, June 4th. Oppenheimer reissued an “outperform” rating and issued a $275.00 target price on shares of Autodesk in a report on Tuesday, June 18th. Finally, StockNews.com lowered Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $262.42.

Autodesk Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.