Brown Brothers Harriman & Co. Has $1.20 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Brown Brothers Harriman & Co. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 25.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,838 shares of the software company’s stock after selling 1,695 shares during the period. Brown Brothers Harriman & Co.’s holdings in Autodesk were worth $1,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ADSK. Price T Rowe Associates Inc. MD increased its holdings in shares of Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares during the last quarter. Norges Bank acquired a new position in shares of Autodesk in the fourth quarter valued at $619,404,000. Ninety One UK Ltd increased its holdings in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Autodesk by 100.9% in the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after purchasing an additional 479,559 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ADSK. Morgan Stanley upped their price objective on shares of Autodesk from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, August 30th. BMO Capital Markets upped their price target on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Bank of America upped their price target 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. Rosenblatt Securities upped their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Barclays upped their price target on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Stock Up 1.4 %

ADSK stock opened at $267.73 on Tuesday. The stock has a market capitalization of $57.70 billion, a P/E ratio of 57.95, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The firm has a 50-day moving average price of $248.76 and a 200-day moving average price of $239.16.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm 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 quarter in the prior year, the business earned $1.12 earnings per share. As a group, equities research analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Transactions at Autodesk

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 value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,762 shares of company stock valued at $10,046,302. 0.14% of the stock is currently owned by insiders.

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.