TCW Group Inc. Takes $38.45 Million Position in Autodesk, Inc. (ADSK)

TCW Group Inc. purchased a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 246,277 shares of the software company’s stock, valued at approximately $38,447,000.

Other hedge funds have also added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI grew its position in shares of Autodesk by 4.2% in the second quarter. Zurich Insurance Group Ltd FI now owns 45,512 shares of the software company’s stock valued at $5,966,000 after purchasing an additional 1,825 shares during the last quarter. Glen Harbor Capital Management LLC grew its position in shares of Autodesk by 18.2% in the second quarter. Glen Harbor Capital Management LLC now owns 11,016 shares of the software company’s stock valued at $1,444,000 after purchasing an additional 1,700 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of Autodesk by 101.0% in the second quarter. Nomura Holdings Inc. now owns 8,532 shares of the software company’s stock valued at $1,118,000 after purchasing an additional 830,900 shares during the last quarter. Supplemental Annuity Collective Trust of NJ grew its position in shares of Autodesk by 50.0% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 3,000 shares of the software company’s stock valued at $393,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Harfst & Associates Inc. acquired a new stake in shares of Autodesk in the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

NASDAQ:ADSK opened at $125.96 on Wednesday. The company has a market cap of $27.26 billion, a price-to-earnings ratio of -78.73, a P/E/G ratio of 104.44 and a beta of 1.80. Autodesk, Inc. has a fifty-two week low of $101.55 and a fifty-two week high of $159.94.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 23rd. The software company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $612.00 million for the quarter, compared to the consensus estimate of $600.36 million. Autodesk had a negative net margin of 18.52% and a negative return on equity of 3,087.49%. Autodesk’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. As a group, equities analysts expect that Autodesk, Inc. will post 0.05 EPS for the current year.

Several analysts have recently commented on ADSK shares. Canaccord Genuity increased their price target on shares of Autodesk from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. Griffin Securities increased their price target on shares of Autodesk from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 24th. ValuEngine upgraded shares of Autodesk from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 21st. Evercore ISI reiterated a “buy” rating and issued a $175.00 price target on shares of Autodesk in a research report on Wednesday, September 19th. Finally, Zacks Investment Research upgraded shares of Autodesk from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Autodesk has an average rating of “Buy” and a consensus price target of $163.74.

In other Autodesk news, CEO Andrew Anagnost sold 23,008 shares of the stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $152.03, for a total transaction of $3,497,906.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Crawford W. Beveridge sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $149.77, for a total transaction of $149,770.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,009 shares of company stock worth $4,431,583. 0.14% of the stock is currently owned by insiders.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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