Tybourne Capital Management HK Ltd. Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

Tybourne Capital Management HK Ltd. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,832 shares of the software company’s stock, valued at approximately $1,882,000. Autodesk makes up about 0.5% of Tybourne Capital Management HK Ltd.’s investment portfolio, making the stock its 24th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk in the first quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Autodesk in the 1st quarter valued at $26,000. Olistico Wealth LLC purchased a new position in Autodesk in the 2nd quarter valued at $26,000. Pacifica Partners Inc. boosted its stake in Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Autodesk during the third quarter worth $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Down 8.6 %

Shares of NASDAQ ADSK opened at $290.64 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $289.02 and its two-hundred day moving average is $256.83. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The firm has a market cap of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADSK. Morgan Stanley boosted their target price on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Rosenblatt Securities lifted their price objective on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler upped their target price on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer lifted their price target on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Barclays boosted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $315.38.

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 over the last three months. Company insiders own 0.14% of the company’s stock.

About Autodesk

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.