Stonegate Investment Group LLC Boosts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Stonegate Investment Group LLC lifted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,799 shares of the software company’s stock after purchasing an additional 1,767 shares during the quarter. Stonegate Investment Group LLC’s holdings in Autodesk were worth $4,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Autodesk in the 4th quarter worth about $619,404,000. Meritage Group LP bought a new stake in shares of Autodesk in the 3rd quarter worth approximately $170,972,000. FIL Ltd increased its position in Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares in the last quarter. Cantillon Capital Management LLC raised its stake in Autodesk by 35.1% during the fourth quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock valued at $414,551,000 after buying an additional 442,005 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Autodesk by 4,112.0% in the third quarter. Los Angeles Capital Management LLC now owns 446,047 shares of the software company’s stock worth $92,292,000 after acquiring an additional 435,457 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK traded down $3.93 during trading on Tuesday, hitting $212.85. 1,427,515 shares of the company’s stock were exchanged, compared to its average volume of 1,469,514. The business’s 50-day simple moving average is $245.86 and its 200 day simple moving average is $235.68. The company has a market cap of $45.53 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 3.00 and a beta of 1.43. Autodesk, Inc. has a 52-week low of $189.54 and a 52-week high of $279.53. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $1.26 EPS. Autodesk’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Autodesk, Inc. will post 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of Autodesk in a research report on Monday, April 1st. KeyCorp increased their price objective on Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday. Citigroup increased their price objective on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Mizuho lifted their target price on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $272.44.

Insider Activity

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Deborah Clifford sold 5,553 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total value of $1,443,835.53. Following the transaction, the chief financial officer now owns 32,259 shares of the company’s stock, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. Insiders sold 36,166 shares of company stock valued at $9,465,055 in the last ninety days. Insiders own 0.14% of the company’s stock.

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.