LGT Group Foundation Acquires 272,799 Shares of Autodesk, Inc. (NASDAQ:ADSK)

LGT Group Foundation boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 76,844.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 273,154 shares of the software company's stock after buying an additional 272,799 shares during the quarter. Autodesk makes up about 1.0% of LGT Group Foundation's investment portfolio, making the stock its 25th largest holding. LGT Group Foundation owned approximately 0.13% of Autodesk worth $67,592,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company's stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. Norges Bank bought a new position in shares of Autodesk in the fourth quarter worth approximately $619,404,000. Ninety One UK Ltd boosted its position in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company's stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares during the period. Van ECK Associates Corp boosted its position in shares of Autodesk by 100.9% in the second 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 during the period. Finally, FIL Ltd boosted its position in shares of Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company's stock worth $711,216,000 after purchasing an additional 479,559 shares during the period. 90.24% of the stock is currently owned by institutional investors.

Autodesk Trading Up 2.1 %

Shares of ADSK traded up $5.30 during midday trading on Monday, hitting $255.67. The stock had a trading volume of 1,497,289 shares, compared to its average volume of 1,660,751. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The firm has a market cap of $54.97 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 3.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The stock's 50 day moving average is $247.33 and its 200 day moving average is $239.00.

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

Insider Activity

In related news, COO Steven M. Blum sold 17,413 shares of the firm's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares of the company's stock, valued at approximately $12,256,390.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the transaction, the director now owns 31,566 shares of the company's stock, valued at approximately $7,418,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Steven M. Blum sold 17,413 shares of the firm's stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,275 shares of company stock valued at $14,220,661. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ADSK. Piper Sandler upped their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Hsbc Global Res upgraded shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, September 3rd. HSBC upgraded shares of Autodesk from a "hold" rating to a "buy" rating and upped their target price for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Oppenheimer upped their target price on shares of Autodesk from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Finally, Morgan Stanley upped their target price on shares of Autodesk from $305.00 to $320.00 and gave the stock an "overweight" rating in a research report on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $292.17.

Autodesk Company 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.