Wellington Management Group LLP Boosts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Wellington Management Group LLP lifted its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 538,592 shares of the software company’s stock after purchasing an additional 130,341 shares during the quarter. Wellington Management Group LLP owned 0.25% of Autodesk worth $131,136,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. purchased a new position in Autodesk during the third quarter worth $1,062,000. Mariner LLC boosted its stake in Autodesk by 3.7% during the third quarter. Mariner LLC now owns 23,464 shares of the software company’s stock worth $4,855,000 after buying an additional 835 shares during the period. Federated Hermes Inc. boosted its stake in Autodesk by 129.0% during the third quarter. Federated Hermes Inc. now owns 3,526 shares of the software company’s stock worth $730,000 after buying an additional 1,986 shares during the period. Northern Trust Corp boosted its stake in Autodesk by 1.7% during the third quarter. Northern Trust Corp now owns 2,548,156 shares of the software company’s stock worth $527,239,000 after buying an additional 43,293 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in Autodesk by 124.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 310 shares of the software company’s stock worth $64,000 after buying an additional 172 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ADSK. Citigroup lifted their price objective on shares of Autodesk from $286.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Robert W. Baird decreased their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Oppenheimer reiterated an “outperform” rating and set a $275.00 target price on shares of Autodesk in a research report on Tuesday. Barclays decreased their target price on Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Finally, Mizuho decreased their target price on Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $262.42.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,501 shares of company stock worth $11,714,162. Insiders own 0.14% of the company’s stock.

Autodesk Price Performance

ADSK opened at $243.51 on Friday. The business’s 50-day moving average is $218.70 and its two-hundred day moving average is $238.15. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $52.48 billion, a PE ratio of 52.71, a price-to-earnings-growth ratio of 3.26 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Autodesk, Inc. will post 5.55 earnings per share for the current fiscal year.

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.