Jag Capital Management LLC acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,315 shares of the software company's stock, valued at approximately $13,861,000. Autodesk comprises about 1.7% of Jag Capital Management LLC's portfolio, making the stock its 23rd largest position.
A number of other hedge funds have also made changes to their positions in the stock. Marshall Financial Group LLC increased its holdings in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company's stock valued at $1,237,000 after acquiring an additional 35 shares during the last quarter. Avitas Wealth Management LLC grew its holdings in Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company's stock valued at $1,536,000 after buying an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company's stock valued at $959,000 after buying an additional 44 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company's stock valued at $228,000 after buying an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network grew its holdings in Autodesk by 2.6% in the 3rd quarter. First Affirmative Financial Network now owns 1,873 shares of the software company's stock valued at $516,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.
Autodesk Trading Up 2.7 %
Shares of Autodesk stock traded up $8.33 during trading on Monday, reaching $313.89. 1,549,364 shares of the company were exchanged, compared to its average volume of 1,576,916. 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 twelve month low of $195.32 and a twelve month high of $314.70. The business has a 50-day moving average price of $275.95 and a 200-day moving average price of $248.50. The firm has a market capitalization of $67.49 billion, a price-to-earnings ratio of 62.49, a P/E/G ratio of 3.84 and a beta of 1.47.
Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly 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. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. 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 company earned $1.12 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ADSK. Royal Bank of Canada raised their target price on Autodesk from $290.00 to $313.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Mizuho set a $260.00 price objective on Autodesk in a report on Friday, October 18th. Barclays lifted their price objective on Autodesk from $275.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. BMO Capital Markets lifted their price objective on Autodesk from $254.00 to $287.00 and gave the stock a "market perform" rating in a report on Friday, August 30th. Finally, Berenberg Bank lifted 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 equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Autodesk has an average rating of "Moderate Buy" and a consensus price target of $292.95.
View Our Latest Stock Report on ADSK
Insiders Place Their Bets
In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the 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 sale, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Stephen W. Hope sold 286 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the 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 owns 31,899 shares of the company's stock, 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. Insiders sold 19,280 shares of company stock worth $5,200,929 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.
About Autodesk
(
Free Report)
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.
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