Sumitomo Mitsui Trust Group Inc. Acquires 38,288 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 885,843 shares of the software company’s stock after buying an additional 38,288 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Autodesk were worth $244,032,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after acquiring an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd increased its position in Autodesk by 28.0% during 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 purchasing an additional 1,108,973 shares during the period. Van ECK Associates Corp raised its holdings 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 worth $406,554,000 after purchasing an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC boosted 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 valued at $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $309.73 on Wednesday. The business has a fifty day moving average of $277.06 and a 200 day moving average of $249.18. The firm has a market capitalization of $66.59 billion, a P/E ratio of 63.34, a PEG ratio of 3.88 and a beta of 1.47. Autodesk, Inc. has a one year low of $195.32 and a one year high of $314.70. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

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, beating the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

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

Analysts Set New Price Targets

ADSK has been the subject of several research analyst reports. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Berenberg Bank raised their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Stifel Nicolaus upped their price target on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Finally, Rosenblatt Securities upped their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.