Los Angeles Capital Management LLC Acquires 26,421 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Los Angeles Capital Management LLC lifted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,287 shares of the software company’s stock after acquiring an additional 26,421 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of Autodesk worth $42,503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADSK. New Covenant Trust Company N.A. bought a new position in Autodesk in the first quarter worth $25,000. LRI Investments LLC bought a new position in Autodesk in the first quarter worth $26,000. Olistico Wealth LLC bought a new position in Autodesk in the second quarter worth $26,000. Pacifica Partners Inc. raised its holdings in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new position in Autodesk in the third quarter worth $27,000. Institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now directly owns 31,899 shares in the company, valued at approximately $7,916,693.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,280 shares of company stock valued at $5,200,929. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK traded up $0.05 on Friday, hitting $305.56. The stock had a trading volume of 968,605 shares, compared to its average volume of 1,238,804. The stock has a market cap of $65.70 billion, a price-to-earnings ratio of 62.49, a price-to-earnings-growth ratio of 3.84 and a beta of 1.47. 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 simple moving average is $275.95 and its two-hundred day simple moving average is $248.26. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $307.17.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.12 earnings per share. As a group, research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ADSK shares. KeyCorp reiterated an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a report on Monday, August 26th. Royal Bank of Canada increased their price objective on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Bank of America raised their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Citigroup set a $325.00 price target on Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Oppenheimer raised their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $292.95.

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.