TCW Group Inc. Acquires 3,376 Shares of Autodesk, Inc. (NASDAQ:ADSK)

TCW Group Inc. raised its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 15.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,357 shares of the software company’s stock after buying an additional 3,376 shares during the period. TCW Group Inc.’s holdings in Autodesk were worth $6,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Bfsg LLC bought a new position in Autodesk during the 4th quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in Autodesk during the fourth quarter worth about $28,000. Private Wealth Management Group LLC bought a new stake in Autodesk in the 4th quarter worth about $31,000. First United Bank & Trust purchased a new stake in Autodesk in the 4th quarter valued at about $34,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Autodesk by 67.1% during the 4th quarter. AdvisorNet Financial Inc now owns 142 shares of the software company’s stock worth $35,000 after buying an additional 57 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Oppenheimer decreased their price target on Autodesk from $315.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. KeyCorp decreased their price objective on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Stifel Nicolaus dropped their target price on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Citigroup raised their price target on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $270.17.

Insider Transactions at Autodesk

In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the transaction, the director now directly owns 33,766 shares of the company’s stock, valued at $9,285,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,616 shares of company stock valued at $9,319,448. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of Autodesk stock traded down $0.27 on Friday, reaching $214.89. The stock had a trading volume of 1,496,728 shares, compared to its average volume of 1,401,080. The business’s 50 day moving average is $231.60 and its two-hundred day moving average is $237.02. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a market cap of $46.30 billion, a P/E ratio of 51.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45.

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

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.