Autodesk, Inc. (NASDAQ:ADSK) Position Raised by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. boosted its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 171.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,916 shares of the software company’s stock after purchasing an additional 16,375 shares during the period. Westwood Holdings Group Inc.’s holdings in Autodesk were worth $4,038,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Manhattan Co. increased its holdings in Autodesk by 221.2% during the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Sontag Advisory LLC acquired a new stake in shares of Autodesk in the 4th quarter valued at $25,000. Farmers National Bank acquired a new stake in shares of Autodesk in the 1st quarter valued at $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Autodesk by 975.0% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 215 shares of the software company’s stock valued at $34,000 after buying an additional 195 shares during the period. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Autodesk during the fourth quarter worth $30,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ADSK traded down $4.77 during midday trading on Friday, reaching $157.55. The company had a trading volume of 57,321 shares, compared to its average volume of 1,827,653. The company has a market cap of $35.97 billion, a P/E ratio of 1,425.45, a P/E/G ratio of 2.58 and a beta of 1.92. Autodesk, Inc. has a 1-year low of $117.72 and a 1-year high of $178.95.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $735.50 million during the quarter, compared to analyst estimates of $740.14 million. Autodesk had a negative net margin of 0.82% and a negative return on equity of 26.61%. Autodesk’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Research analysts anticipate that Autodesk, Inc. will post 1.67 EPS for the current year.

A number of equities research analysts recently commented on the company. Wedbush lifted their price objective on Autodesk from $131.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. TheStreet upgraded Autodesk from a “d” rating to a “c” rating in a report on Thursday, February 28th. BidaskClub upgraded Autodesk from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th. Deutsche Bank boosted their price target on Autodesk to $180.00 and gave the company a “buy” rating in a report on Thursday, February 21st. Finally, Zacks Investment Research lowered Autodesk from a “hold” rating to a “strong sell” rating and set a $169.00 price target on the stock. in a report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $172.31.

In related news, Director Karen Blasing sold 1,300 shares of Autodesk stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $164.54, for a total value of $213,902.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Steven M. Blum sold 16,838 shares of Autodesk stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $168.68, for a total value of $2,840,233.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,598 shares of company stock worth $6,673,861. 0.12% of the stock is owned by company insiders.

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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; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

Further Reading: Earnings Per Share

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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