Los Angeles Capital Management LLC Cuts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Los Angeles Capital Management LLC cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 49.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,977 shares of the software company’s stock after selling 76,310 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Autodesk were worth $23,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Exchange Capital Management Inc. boosted its holdings in Autodesk by 3.4% during the 4th quarter. Exchange Capital Management Inc. now owns 2,062 shares of the software company’s stock valued at $609,000 after acquiring an additional 67 shares during the period. Addison Advisors LLC boosted its holdings in Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after acquiring an additional 74 shares during the period. RWC Asset Management LLP purchased a new stake in Autodesk during the 4th quarter valued at about $4,015,000. Y Intercept Hong Kong Ltd boosted its holdings in Autodesk by 120.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 6,978 shares of the software company’s stock valued at $2,062,000 after acquiring an additional 3,807 shares during the period. Finally, Howard Capital Management Inc. boosted its holdings in Autodesk by 3.3% during the 4th quarter. Howard Capital Management Inc. now owns 5,961 shares of the software company’s stock valued at $1,762,000 after acquiring an additional 193 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Down 0.5 %

ADSK stock opened at $283.72 on Wednesday. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $61.00 billion, a PE ratio of 56.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The business has a 50 day moving average of $297.47 and a 200 day moving average of $286.63.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADSK. Robert W. Baird increased their target price on Autodesk from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target for the company. in a research report on Friday, November 29th. KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. UBS Group began coverage on Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target for the company. Finally, Oppenheimer upped their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $334.45.

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.