Paloma Partners Management Co Raises Stake in Autodesk, Inc. (NASDAQ:ADSK)

Paloma Partners Management Co grew its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 244.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,500 shares of the software company's stock after buying an additional 3,904 shares during the quarter. Paloma Partners Management Co's holdings in Autodesk were worth $1,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jag Capital Management LLC purchased a new stake in Autodesk in the 3rd quarter valued at about $13,861,000. LMR Partners LLP bought a new stake in shares of Autodesk during the third quarter valued at approximately $12,643,000. Bank of Montreal Can grew its stake in Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company's stock worth $248,385,000 after purchasing an additional 73,363 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Autodesk during the 3rd quarter worth $20,087,000. Finally, Forsta AP Fonden raised its position in Autodesk by 7.9% during the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company's stock valued at $14,215,000 after purchasing an additional 3,800 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $2.31 during midday trading on Tuesday, reaching $298.96. The company's stock had a trading volume of 1,943,365 shares, compared to its average volume of 1,662,884. The firm has a market capitalization of $64.28 billion, a PE ratio of 59.32, a P/E/G ratio of 3.50 and a beta of 1.43. The stock has a fifty day moving average of $291.08 and a 200 day moving average of $259.23. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. On average, equities analysts expect that Autodesk, Inc. will post 5.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ADSK shares. Barclays raised their price target on Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Rosenblatt Securities boosted their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Hsbc Global Res downgraded shares of Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Friday. UBS Group initiated coverage on shares of Autodesk in a report on Monday. They set a "buy" rating and a $350.00 price objective on the stock. Finally, Robert W. Baird increased their target price on Autodesk from $305.00 to $330.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $316.68.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of Autodesk 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 of the company's stock, valued at $1,340,944.36. The trade was 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 link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares of the company's stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock valued at $549,333 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

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.