Qube Research & Technologies Ltd Trims Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Qube Research & Technologies Ltd lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 4.3% during the 2nd quarter, Holdings Channel reports. The firm owned 3,633 shares of the software company’s stock after selling 162 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Autodesk were worth $592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Autodesk by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock worth $368,471,000 after acquiring an additional 214,397 shares during the period. First Manhattan Co. increased its stake in shares of Autodesk by 221.2% during the first quarter. First Manhattan Co. now owns 167 shares of the software company’s stock worth $26,000 after acquiring an additional 115 shares during the period. Pennsylvania Trust Co acquired a new position in shares of Autodesk during the first quarter worth about $217,000. Glaxis Capital Management LLC purchased a new stake in Autodesk during the first quarter worth about $2,045,000. Finally, Brinker Capital Inc. boosted its holdings in Autodesk by 3.0% during the first quarter. Brinker Capital Inc. now owns 61,604 shares of the software company’s stock worth $9,599,000 after buying an additional 1,811 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

In other news, Director Crawford W. Beveridge sold 1,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $161.09, for a total value of $161,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Betsy Rafael sold 2,039 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $157.83, for a total transaction of $321,815.37. The disclosure for this sale can be found here. Insiders have sold 6,773 shares of company stock valued at $1,109,297 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

A number of analysts recently commented on ADSK shares. Zacks Investment Research downgraded shares of Autodesk from a “hold” rating to a “strong sell” rating and set a $169.00 price objective on the stock. in a report on Monday, June 3rd. Deutsche Bank downgraded shares of Autodesk from a “buy” rating to a “hold” rating and reduced their price target for the company from $180.00 to $165.00 in a report on Thursday. BidaskClub downgraded shares of Autodesk from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. ValuEngine downgraded shares of Autodesk from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup started coverage on shares of Autodesk in a research note on Monday, July 22nd. They set a “buy” rating and a $210.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $174.35.

ADSK stock traded up $2.58 on Monday, hitting $146.71. 23,410 shares of the company were exchanged, compared to its average volume of 2,022,488. Autodesk, Inc. has a twelve month low of $117.72 and a twelve month high of $178.95. The business’s fifty day moving average is $162.67 and its two-hundred day moving average is $163.10. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 1,333.27, a price-to-earnings-growth ratio of 2.26 and a beta of 1.79.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The company had revenue of $735.50 million for the quarter, compared to analyst estimates of $740.14 million. During the same period last year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. Sell-side analysts predict that Autodesk, Inc. will post 1.66 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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