Concentric Capital Strategies LP Has $6.41 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Concentric Capital Strategies LP lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 41.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,253 shares of the software company’s stock after selling 16,279 shares during the quarter. Concentric Capital Strategies LP’s holdings in Autodesk were worth $6,406,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Starboard Value LP bought a new position in Autodesk during the 3rd quarter worth about $510,189,000. Ninety One UK Ltd raised its position in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp lifted its stake in Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,936 shares of company stock worth $549,333 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADSK shares. Barclays increased their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada raised their price objective on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Morgan Stanley upped 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. Citigroup raised their price target on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday. Finally, Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.68.

Autodesk Trading Up 0.4 %

Shares of Autodesk stock opened at $291.90 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. The firm has a 50-day moving average of $289.93 and a 200-day moving average of $258.15. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market cap of $62.76 billion, a PE ratio of 57.92, a PEG ratio of 3.73 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 analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.79 EPS for the current year.

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.