Autodesk, Inc. (NASDAQ:ADSK) Position Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in Autodesk, Inc. (NASDAQ:ADSK) by 394.9% in the third quarter, Holdings Channel reports. The firm owned 567,360 shares of the software company’s stock after purchasing an additional 452,728 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Autodesk were worth $156,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Autodesk in the 1st quarter worth about $25,000. LRI Investments LLC acquired a new stake in Autodesk during the first quarter worth about $26,000. Olistico Wealth LLC bought a new position in Autodesk in the second quarter worth about $26,000. Pacifica Partners Inc. boosted its stake in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in shares of Autodesk during the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 in the last quarter. 0.14% of the stock is owned by company insiders.

Autodesk Stock Up 1.9 %

ADSK stock opened at $321.27 on Friday. The firm has a market cap of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $321.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $286.44 and a 200 day simple moving average of $254.89.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. Equities research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADSK has been the topic of several recent research reports. Oppenheimer raised their price target on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America raised their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Stifel Nicolaus upped their price target 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 upgraded shares of Autodesk from a “hold” rating to a “buy” rating and lifted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley upped their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.43.

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.