LMR Partners LLP Makes New Investment in Autodesk, Inc. (NASDAQ:ADSK)

LMR Partners LLP purchased a new position in Autodesk, Inc. (NASDAQ:ADSK) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 45,894 shares of the software company’s stock, valued at approximately $12,643,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Marshall Financial Group LLC grew its stake in shares of Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after purchasing an additional 35 shares during the period. Avitas Wealth Management LLC boosted its holdings in shares of Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after acquiring an additional 42 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after acquiring an additional 44 shares in the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after acquiring an additional 45 shares in the last quarter. Finally, First Affirmative Financial Network boosted its holdings in shares of Autodesk by 2.6% in the 3rd quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock worth $516,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADSK shares. Citigroup set a $325.00 target price on Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. Rosenblatt Securities upped their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. DA Davidson initiated coverage on Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective on the stock. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Finally, Berenberg Bank upped their price objective on Autodesk from $286.00 to $299.00 and gave the stock a “hold” 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average target price of $296.20.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred 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 $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred 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 $8,323,159.50. The trade was 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 valued at $5,232,213 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

ADSK opened at $299.15 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $315.73. The company has a fifty day simple moving average of $281.32 and a 200 day simple moving average of $251.79. The stock has a market cap of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $1.12 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Autodesk, Inc. will post 5.73 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.