GAMMA Investing LLC Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

GAMMA Investing LLC lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 83.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,669 shares of the software company’s stock after buying an additional 1,670 shares during the period. GAMMA Investing LLC’s holdings in Autodesk were worth $908,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Autodesk in the 4th quarter valued at $25,000. Concord Wealth Partners acquired a new stake in Autodesk during the 1st quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the 1st quarter worth $25,000. LRI Investments LLC acquired a new stake in Autodesk during the 1st quarter worth $26,000. Finally, Bfsg LLC acquired a new stake in Autodesk during the 4th quarter worth $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Autodesk from $286.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Berenberg Bank downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a report on Wednesday, May 1st. Bank of America decreased their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Oppenheimer reissued an “outperform” rating and set a $275.00 price objective on shares of Autodesk in a report on Tuesday, June 18th. Finally, Robert W. Baird decreased their price objective on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $262.42.

Insider Activity

In other news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,381 shares of company stock worth $9,401,282. 0.14% of the stock is currently owned by company insiders.

Autodesk Trading Down 2.9 %

ADSK traded down $6.68 during trading on Monday, hitting $224.69. 1,327,560 shares of the company’s stock were exchanged, compared to its average volume of 1,697,444. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The stock has a 50 day moving average price of $235.54 and a 200 day moving average price of $240.22. The firm has a market cap of $48.42 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. Autodesk’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

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.