Primecap Management Co. CA Has $187.55 Million Stake in Autodesk, Inc. (NASDAQ:ADSK)

Primecap Management Co. CA boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 680,820 shares of the software company’s stock after buying an additional 24,920 shares during the period. Primecap Management Co. CA owned approximately 0.32% of Autodesk worth $187,552,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the first quarter worth about $25,000. LRI Investments LLC acquired a new stake in Autodesk during the first quarter worth about $26,000. Livelsberger Financial Advisory acquired a new stake in Autodesk during the third quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in Autodesk during the third quarter worth about $28,000. Finally, Concord Wealth Partners acquired a new stake in Autodesk during the third quarter worth about $28,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 in the last three months. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADSK. Oppenheimer raised their price target on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Citigroup set a $325.00 price target on shares of Autodesk and gave the company a “buy” rating in a research note on Friday, October 18th. Scotiabank initiated coverage on shares of Autodesk in a research note on Monday. They issued a “sector outperform” rating and a $360.00 price target on the stock. Rosenblatt Securities raised their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Stifel Nicolaus raised their price objective on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.38.

Autodesk Stock Performance

NASDAQ ADSK opened at $307.84 on Thursday. The company has a fifty day simple moving average of $284.18 and a 200 day simple moving average of $253.46. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $315.73. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market cap of $66.19 billion, a P/E ratio of 62.95, a PEG ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $1.12 EPS. Autodesk’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal 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.