Freedom Investment Management Inc. Increases Position in Autodesk, Inc. (NASDAQ:ADSK)

Freedom Investment Management Inc. increased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,779 shares of the software company’s stock after acquiring an additional 126 shares during the quarter. Freedom Investment Management Inc.’s holdings in Autodesk were worth $490,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ninety One UK Ltd increased its stake in shares of Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp increased its position in Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after purchasing an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 394.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after buying an additional 452,728 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Up 0.4 %

Shares of NASDAQ:ADSK opened at $291.90 on Friday. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. The firm has a market cap of $62.76 billion, a PE ratio of 57.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47. The company has a fifty day simple moving average of $289.93 and a 200 day simple moving average of $257.59.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Autodesk, Inc. will post 5.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays lifted their target price on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Stifel Nicolaus increased their target price on shares of Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research report on Friday. Finally, DA Davidson started coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $315.10.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,936 shares of company stock valued at $549,333 in the last quarter. 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.