Commerce Bank trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK) by 0.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,561 shares of the software company’s stock after selling 111 shares during the quarter. Commerce Bank’s holdings in Autodesk were worth $2,269,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc lifted its stake in Autodesk by 0.6% in the third quarter. Vanguard Group Inc now owns 22,839,276 shares of the software company’s stock valued at $3,565,439,000 after buying an additional 128,028 shares during the last quarter. BlackRock Inc. lifted its stake in Autodesk by 0.8% in the fourth quarter. BlackRock Inc. now owns 17,305,793 shares of the software company’s stock valued at $2,225,700,000 after buying an additional 132,973 shares during the last quarter. Geode Capital Management LLC lifted its stake in Autodesk by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock valued at $368,471,000 after buying an additional 214,397 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Autodesk by 7.0% during the fourth quarter. Brown Advisory Inc. now owns 2,773,645 shares of the software company’s stock valued at $356,718,000 after purchasing an additional 182,278 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in shares of Autodesk by 2.2% during the fourth quarter. Sustainable Growth Advisers LP now owns 2,713,336 shares of the software company’s stock valued at $348,962,000 after purchasing an additional 59,175 shares in the last quarter. Institutional investors own 95.55% of the company’s stock.
ADSK has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $163.00 price objective on shares of Autodesk in a research note on Friday, March 29th. Bank of America restated a “neutral” rating and set a $169.00 price objective (up from $149.00) on shares of Autodesk in a research note on Friday, March 1st. BidaskClub upgraded shares of Autodesk from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Credit Suisse Group lifted their price objective on shares of Autodesk from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Barclays lifted their price objective on shares of Autodesk from $192.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $173.63.
In related news, Director Crawford W. Beveridge sold 1,000 shares of Autodesk stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $152.90, for a total value of $152,900.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Anagnost sold 10,440 shares of Autodesk stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $153.21, for a total value of $1,599,512.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,577 shares of company stock worth $9,509,716. 0.12% of the stock is owned by company insiders.
Shares of Autodesk stock opened at $161.22 on Friday. Autodesk, Inc. has a 52 week low of $117.72 and a 52 week high of $178.95. The stock has a market capitalization of $35.49 billion, a price-to-earnings ratio of 1,465.64, a price-to-earnings-growth ratio of 2.60 and a beta of 1.95.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $735.50 million for the quarter, compared to analysts’ expectations of $740.14 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, equities analysts anticipate that Autodesk, Inc. will post 1.76 EPS for the current year.
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Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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