Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,481 shares of the software company’s stock after purchasing an additional 285 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Autodesk were worth $4,743,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of Autodesk by 11.1% in the fourth quarter. Signaturefd LLC now owns 2,471 shares of the software company’s stock worth $602,000 after buying an additional 247 shares in the last quarter. Nicholas Hoffman & Company LLC. bought a new position in Autodesk in the 4th quarter valued at approximately $224,000. Pathway Financial Advisors LLC purchased a new stake in Autodesk during the 4th quarter valued at $201,000. Verdence Capital Advisors LLC raised its stake in shares of Autodesk by 6.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 3,798 shares of the software company’s stock worth $925,000 after purchasing an additional 215 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Autodesk by 39.8% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the software company’s stock valued at $179,000 after purchasing an additional 210 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the sale, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Rebecca Pearce sold 1,628 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares in the company, valued at $3,425,974.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders sold a total of 36,166 shares of company stock valued at $9,465,055 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $217.13 on Tuesday. The company has a market capitalization of $46.44 billion, a P/E ratio of 51.57, a P/E/G ratio of 2.98 and a beta of 1.43. Autodesk, Inc. has a 1-year low of $188.38 and a 1-year high of $279.53. The firm’s 50 day simple moving average is $250.96 and its two-hundred day simple moving average is $235.48. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ADSK. TheStreet upgraded Autodesk from a “c+” rating to a “b-” rating in a report on Friday, December 29th. KeyCorp boosted their price objective on shares of Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Mizuho increased their price objective on shares of Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Barclays lifted their target price on shares of Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, StockNews.com raised Autodesk from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

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.