Grimes & Company Inc. Acquires Shares of 854 Autodesk, Inc. (NASDAQ:ADSK)

Grimes & Company Inc. acquired a new stake in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 854 shares of the software company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TD Asset Management Inc lifted its position in Autodesk by 13.0% during the first quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock valued at $113,128,000 after buying an additional 50,027 shares during the period. Leith Wheeler Investment Counsel Ltd. lifted its position in Autodesk by 10.9% during the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock valued at $13,097,000 after buying an additional 4,932 shares during the period. Cetera Investment Advisers lifted its position 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 buying an additional 38,196 shares during the period. Primecap Management Co. CA lifted its position in Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after buying an additional 49,500 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in Autodesk by 57.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 16,646 shares of the software company’s stock valued at $4,335,000 after buying an additional 6,044 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADSK. Wells Fargo & Company initiated coverage on Autodesk in a research report on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price objective for the company. Mizuho set a $260.00 price target on Autodesk in a research report on Friday, October 18th. Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. DA Davidson initiated coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $292.95.

Autodesk Trading Down 0.2 %

Autodesk stock opened at $285.77 on Friday. The business has a 50-day simple moving average of $266.78 and a two-hundred day simple moving average of $242.99. The company has a market cap of $61.59 billion, a P/E ratio of 61.85, a P/E/G ratio of 3.52 and a beta of 1.48. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $294.13. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 17,344 shares of the business’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 transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,200,929 in the last three months. 0.14% of the stock is currently owned by company insiders.

Autodesk 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.