Mirae Asset Global Investments Co. Ltd. Grows Stake in Autodesk, Inc. (NASDAQ:ADSK)

by · The Cerbat Gem

Mirae Asset Global Investments Co. Ltd. increased its holdings in Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,521 shares of the software company’s stock after purchasing an additional 10,916 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.05% of Autodesk worth $32,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new position in shares of Autodesk during the first quarter worth $25,000. Concord Wealth Partners purchased a new position in shares of Autodesk during the first quarter valued at about $25,000. LRI Investments LLC purchased a new position in shares of Autodesk during the first quarter valued at about $26,000. Livelsberger Financial Advisory bought a new stake in shares of Autodesk in the third quarter worth about $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk in the second quarter worth about $26,000. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, 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 link. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now directly owns 31,899 shares in the company, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,200,929 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. DA Davidson assumed coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective on the stock. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $320.00 price target on shares of Autodesk in a research report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $292.95.

Read Our Latest Analysis on ADSK

Autodesk Stock Up 0.1 %

Shares of ADSK opened at $286.04 on Friday. The firm has a fifty day moving average price of $267.49 and a 200-day moving average price of $243.28. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $61.64 billion, a P/E ratio of 61.91, a P/E/G ratio of 3.52 and a beta of 1.48. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $294.13.

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

Autodesk Company Profile

(Free Report)

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.

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