DNB Asset Management AS Acquires 2,111 Shares of Autodesk, Inc. (NASDAQ:ADSK)

DNB Asset Management AS lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.6% in the third quarter, Holdings Channel.com reports. The fund owned 23,993 shares of the software company’s stock after purchasing an additional 2,111 shares during the period. DNB Asset Management AS’s holdings in Autodesk were worth $3,544,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Patten & Patten Inc. TN raised its holdings in shares of Autodesk by 18.9% during the third quarter. Patten & Patten Inc. TN now owns 1,889 shares of the software company’s stock valued at $279,000 after acquiring an additional 300 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Autodesk by 10.8% in the third quarter. Pacer Advisors Inc. now owns 38,125 shares of the software company’s stock worth $5,631,000 after acquiring an additional 3,716 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Autodesk by 2,115.7% in the third quarter. Artemis Investment Management LLP now owns 68,243 shares of the software company’s stock worth $10,057,000 after acquiring an additional 65,163 shares during the last quarter. Forte Capital LLC ADV grew its stake in shares of Autodesk by 3.5% in the third quarter. Forte Capital LLC ADV now owns 31,164 shares of the software company’s stock worth $4,603,000 after acquiring an additional 1,045 shares during the last quarter. Finally, First Hawaiian Bank grew its stake in shares of Autodesk by 13.3% in the third quarter. First Hawaiian Bank now owns 14,626 shares of the software company’s stock worth $2,160,000 after acquiring an additional 1,716 shares during the last quarter. Institutional investors own 93.34% of the company’s stock.

In related news, CAO Stephen W. Hope sold 856 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $152.25, for a total transaction of $130,326.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,154 shares of company stock worth $175,163 over the last ninety days. 0.12% of the stock is currently owned by insiders.

Autodesk stock opened at $139.67 on Friday. Autodesk, Inc. has a one year low of $117.72 and a one year high of $178.95. The stock has a market capitalization of $31.68 billion, a PE ratio of 1,269.73, a price-to-earnings-growth ratio of 2.52 and a beta of 1.86. The business’s fifty day moving average is $148.06 and its 200 day moving average is $160.36.

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Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, August 27th. The software company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Autodesk had a net margin of 1.95% and a negative return on equity of 59.32%. The business had revenue of $796.80 million for the quarter, compared to analysts’ expectations of $788.00 million. During the same period last year, the business earned $0.19 earnings per share. The company’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, research analysts anticipate that Autodesk, Inc. will post 1.51 earnings per share for the current fiscal year.

A number of research firms have recently commented on ADSK. Stifel Nicolaus cut their target price on Autodesk from $185.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Bank of America cut Autodesk from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 28th. Wells Fargo & Co cut their target price on Autodesk from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut their target price on Autodesk from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Finally, Wedbush reissued a “neutral” rating and issued a $149.00 target price (down from $164.00) on shares of Autodesk in a research note on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $169.48.

Autodesk Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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