Panagora Asset Management Inc. Acquires 52,249 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Panagora Asset Management Inc. grew its position in Autodesk, Inc. (NASDAQ:ADSK) by 1,116.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,931 shares of the software company’s stock after purchasing an additional 52,249 shares during the quarter. Panagora Asset Management Inc.’s holdings in Autodesk were worth $14,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ADSK. Atria Wealth Solutions Inc. boosted its position in shares of Autodesk by 42.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 5,695 shares of the software company’s stock worth $1,387,000 after purchasing an additional 1,711 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Autodesk by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company’s stock worth $481,000 after acquiring an additional 103 shares during the last quarter. Choreo LLC bought a new position in shares of Autodesk during the fourth quarter worth $208,000. Intrust Bank NA boosted its position in shares of Autodesk by 11.7% during the fourth quarter. Intrust Bank NA now owns 2,169 shares of the software company’s stock worth $528,000 after acquiring an additional 227 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC boosted its position in shares of Autodesk by 3.7% during the fourth quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock worth $331,000 after acquiring an additional 49 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Stock Up 0.1 %

Shares of NASDAQ:ADSK traded up $0.17 during trading on Friday, reaching $258.40. The stock had a trading volume of 3,800,940 shares, compared to its average volume of 1,656,075. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company has a market capitalization of $55.69 billion, a P/E ratio of 56.19, a PEG ratio of 3.23 and a beta of 1.48. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $245.35 and its 200 day simple moving average is $239.27.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. As a group, research analysts expect that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADSK. Barclays upped their target price on shares of Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday. Rosenblatt Securities upped their price target on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday. KeyCorp reaffirmed an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research note on Monday. Mizuho increased their target price on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Bank of America increased their target price on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $283.33.

Insider Transactions at Autodesk

In related news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,931 shares of company stock worth $9,537,781. Company insiders own 0.14% of the company’s stock.

Autodesk Company 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.