Sumitomo Mitsui Trust Group Inc. Has $244.03 Million Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 885,843 shares of the software company's stock after purchasing an additional 38,288 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.41% of Autodesk worth $244,032,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Jag Capital Management LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at $13,861,000. TD Asset Management Inc raised its position in Autodesk by 13.0% in the first quarter. TD Asset Management Inc now owns 434,407 shares of the software company's stock valued at $113,128,000 after purchasing an additional 50,027 shares during the period. Cetera Investment Advisers raised its position in Autodesk by 163.4% in 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. Forsta AP Fonden lifted its stake in shares of Autodesk by 7.9% during the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company's stock worth $14,215,000 after purchasing an additional 3,800 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Autodesk by 32.0% in the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company's stock worth $3,702,000 after buying an additional 3,259 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the sale, the director now owns 31,899 shares of the company's stock, valued at $7,916,693.82. 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 available at the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now directly owns 31,899 shares in the company, valued at approximately $7,916,693.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,200,929 over the last three months. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

ADSK has been the topic of several analyst reports. Hsbc Global Res upgraded Autodesk to a "strong-buy" rating in a report on Tuesday, September 3rd. Stifel Nicolaus boosted their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. HSBC raised shares of Autodesk from a "hold" rating to a "buy" rating and raised their price target for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Wells Fargo & Company began coverage on shares of Autodesk in a report on Wednesday, October 16th. They issued an "overweight" rating and a $340.00 price objective on the stock. Finally, Berenberg Bank raised their target price on Autodesk from $286.00 to $299.00 and gave the company a "hold" rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Autodesk has an average rating of "Moderate Buy" and an average target price of $292.95.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $3.41 during trading on Wednesday, reaching $313.14. 1,273,456 shares of the company's stock traded hands, compared to its average volume of 1,576,352. 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 company has a 50 day moving average of $278.10 and a 200-day moving average of $249.83. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $315.73. The stock has a market capitalization of $67.33 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 3.93 and a beta of 1.47.

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

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.