Principal Financial Group Inc. Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Principal Financial Group Inc. raised its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,192,345 shares of the software company's stock after purchasing an additional 245,816 shares during the period. Principal Financial Group Inc. owned approximately 1.02% of Autodesk worth $603,947,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Autodesk by 1.9% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position 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 acquiring an additional 4,563,668 shares in the last quarter. 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 acquiring an additional 1,108,973 shares during the period. Legal & General Group Plc lifted its position in Autodesk by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company's stock valued at $523,940,000 after acquiring an additional 81,314 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Autodesk by 4.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company's stock worth $491,673,000 after purchasing an additional 74,394 shares during the period. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Performance

NASDAQ ADSK traded up $3.24 during trading on Thursday, reaching $305.57. The company's stock had a trading volume of 713,204 shares, compared to its average volume of 1,578,267. The firm has a market capitalization of $65.70 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 3.64 and a beta of 1.47. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $306.23. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average price of $274.06 and a 200 day moving average price of $247.03.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 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 analysts' expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. As a group, equities analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now owns 30,799 shares in the company, valued at $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now directly owns 30,799 shares of the company's stock, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock valued at $5,200,929. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

ADSK has been the subject of several recent research reports. Piper Sandler increased their target price on shares of Autodesk from $239.00 to $257.00 and gave the stock a "neutral" rating in a report on Friday, August 30th. Rosenblatt Securities upped their target price on Autodesk from $290.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Stifel Nicolaus raised their price target on Autodesk from $290.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, August 30th. HSBC upgraded Autodesk from a "hold" rating to a "buy" rating and upped their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. 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. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average price target 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.