Daiwa Securities Group Inc. Increases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Daiwa Securities Group Inc. increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 15.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,541 shares of the software company’s stock after buying an additional 9,697 shares during the period. Daiwa Securities Group Inc.’s holdings in Autodesk were worth $19,984,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ADSK. EP Wealth Advisors LLC purchased a new stake in shares of Autodesk in the 1st quarter valued at approximately $202,000. 1832 Asset Management L.P. increased its holdings in Autodesk by 20,050.0% in the first quarter. 1832 Asset Management L.P. now owns 2,015 shares of the software company’s stock valued at $525,000 after buying an additional 2,005 shares during the last quarter. BOKF NA increased its holdings in Autodesk by 11.1% in the first quarter. BOKF NA now owns 8,254 shares of the software company’s stock valued at $2,141,000 after buying an additional 826 shares during the last quarter. Dynasty Wealth Management LLC acquired a new stake in Autodesk in the first quarter valued at $1,839,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Autodesk by 7.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,783 shares of the software company’s stock worth $1,766,000 after buying an additional 448 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus increased their price target on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Robert W. Baird boosted their price objective on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. DA Davidson started coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price for the company. Finally, Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $309.43.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $321.27 on Monday. The stock has a fifty day moving average price of $286.44 and a 200 day moving average price of $255.18. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $321.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts forecast that Autodesk, Inc. will post 5.73 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.