1,852,000 Shares in Autodesk, Inc. (NASDAQ:ADSK) Bought by Starboard Value LP

Starboard Value LP purchased a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,852,000 shares of the software company's stock, valued at approximately $510,189,000. Autodesk makes up approximately 10.8% of Starboard Value LP's portfolio, making the stock its biggest position. Starboard Value LP owned about 0.86% of Autodesk as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADSK. Jag Capital Management LLC bought a new position in Autodesk during the 3rd quarter valued at about $13,861,000. LMR Partners LLP purchased a new stake in shares of Autodesk in the 3rd quarter worth $12,643,000. Bank of Montreal Can lifted its position in Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company's stock valued at $248,385,000 after purchasing an additional 73,363 shares in the last quarter. Cetera Investment Advisers grew its holdings in Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company's stock valued at $16,035,000 after purchasing an additional 38,196 shares during the period. Finally, Forsta AP Fonden lifted its position in shares of 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 buying an additional 3,800 shares in the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Up 0.4 %

Autodesk stock traded up $1.26 during midday trading on Monday, reaching $291.90. The company's stock had a trading volume of 1,317,760 shares, compared to its average volume of 1,593,544. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The stock has a market capitalization of $62.76 billion, a P/E ratio of 57.92, a PEG ratio of 3.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The stock's 50-day simple moving average is $289.93 and its 200-day simple moving average is $258.15.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same period last year, the business earned $1.33 EPS. Autodesk's revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Autodesk, Inc. will post 5.79 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADSK shares. Mizuho lifted their price target on shares of Autodesk from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, November 27th. Piper Sandler increased their price target on Autodesk from $257.00 to $311.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. KeyCorp upped their price objective on Autodesk from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. BMO Capital Markets boosted their price target on Autodesk from $287.00 to $308.00 and gave the stock a "market perform" rating in a report on Wednesday, November 27th. Finally, UBS Group assumed coverage on shares of Autodesk in a report on Monday. They issued a "buy" rating and a $350.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and a consensus price target of $316.68.

Insider Buying and Selling at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the transaction, the director now owns 30,799 shares of the company's stock, valued at $8,787,262.69. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is currently owned by 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.