BDF Gestion Increases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

BDF Gestion raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 100.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,226 shares of the software company’s stock after buying an additional 17,113 shares during the quarter. Autodesk makes up approximately 0.9% of BDF Gestion’s investment portfolio, making the stock its 24th largest position. BDF Gestion’s holdings in Autodesk were worth $9,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning increased its stake in Autodesk by 6.3% during the third quarter. Creative Planning now owns 40,030 shares of the software company’s stock worth $11,028,000 after acquiring an additional 2,371 shares during the last quarter. CX Institutional raised its holdings in Autodesk by 7.6% in the 3rd quarter. CX Institutional now owns 1,549 shares of the software company’s stock valued at $427,000 after buying an additional 110 shares during the period. Thomasville National Bank lifted its position in Autodesk by 1.4% in the third quarter. Thomasville National Bank now owns 66,884 shares of the software company’s stock valued at $18,425,000 after buying an additional 941 shares during the last quarter. Crestmont Private Wealth LLC lifted its stake in Autodesk by 7.1% during the 3rd quarter. Crestmont Private Wealth LLC now owns 1,477 shares of the software company’s stock worth $407,000 after acquiring an additional 98 shares in the last quarter. Finally, CHICAGO TRUST Co NA purchased a new stake in Autodesk during the third quarter worth about $827,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADSK has been the topic of several recent research reports. Morgan Stanley restated an “overweight” rating and set a $320.00 price target on shares of Autodesk in a report on Monday, September 30th. BMO Capital Markets lifted their price target on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. Royal Bank of Canada increased their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. KeyCorp reiterated an “overweight” rating and set a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Finally, HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price target for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the sale, the director now owns 31,899 shares in the company, valued at approximately $7,916,693.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,730 shares of company stock worth $5,044,008. Insiders own 0.14% of the company’s stock.

Autodesk Price Performance

Autodesk stock traded up $1.01 during midday trading on Tuesday, reaching $286.32. The company’s stock had a trading volume of 901,475 shares, compared to its average volume of 1,606,855. The stock’s 50 day simple moving average is $259.84 and its 200 day simple moving average is $241.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $61.70 billion, a PE ratio of 61.85, a P/E/G ratio of 3.52 and a beta of 1.48. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $287.96.

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

About Autodesk

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.