Primecap Management Co. CA Purchases 49,500 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Primecap Management Co. CA raised its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 655,900 shares of the software company's stock after acquiring an additional 49,500 shares during the quarter. Primecap Management Co. CA owned approximately 0.30% of Autodesk worth $162,302,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company's stock worth $5,052,732,000 after purchasing an additional 363,565 shares during the period. 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 worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. Ninety One UK Ltd raised its holdings in shares of Autodesk by 28.0% during 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. FIL Ltd raised its holdings in shares of Autodesk by 19.6% during 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. Finally, Norges Bank acquired a new stake in shares of Autodesk during the fourth quarter worth $619,404,000. 90.24% of the stock is currently owned by institutional investors.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 19,693 shares of the firm's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares of the company's stock, valued at $8,610,750. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Steven M. Blum sold 17,344 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 17,099 shares of the company's stock, valued at $4,616,730. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,762 shares of company stock valued at $10,046,302. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of analyst reports. Barclays increased their price objective on shares of Autodesk from $275.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Berenberg Bank raised their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a "hold" rating in a research note on Friday, August 30th. HSBC raised shares of Autodesk from a "hold" rating to a "buy" rating and raised their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. KeyCorp reissued an "overweight" rating and set a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Finally, Bank of America raised their target price on shares of Autodesk from $260.00 to $285.00 and gave the company a "neutral" rating in a research note 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $292.17.

Autodesk Stock Down 0.3 %

Shares of NASDAQ ADSK traded down $0.84 during mid-day trading on Tuesday, reaching $266.89. The company had a trading volume of 946,668 shares, compared to its average volume of 1,656,079. The stock has a fifty day moving average of $248.76 and a two-hundred day moving average of $239.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $57.52 billion, a price-to-earnings ratio of 57.95, a PEG ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.15. The business 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 revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, equities research analysts expect that Autodesk, Inc. will post 5.73 EPS for the current year.

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.