American Century Companies Inc. Reduces Stake in Autodesk, Inc. (NASDAQ:ADSK)

American Century Companies Inc. lessened its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 70.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 143,583 shares of the software company’s stock after selling 345,091 shares during the period. American Century Companies Inc. owned 0.07% of Autodesk worth $35,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ADSK. LPL Financial LLC boosted its holdings in Autodesk by 8.2% in the 2nd quarter. LPL Financial LLC now owns 165,034 shares of the software company’s stock valued at $40,838,000 after purchasing an additional 12,522 shares during the last quarter. VitalStone Financial LLC acquired a new position in Autodesk in the second quarter valued at approximately $344,000. Andra AP fonden grew its position in Autodesk by 1.7% in the second quarter. Andra AP fonden now owns 108,500 shares of the software company’s stock worth $26,848,000 after acquiring an additional 1,800 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in Autodesk by 11.7% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,375 shares of the software company’s stock worth $588,000 after acquiring an additional 248 shares during the last quarter. Finally, LGT Fund Management Co Ltd. raised its position in Autodesk by 167.2% in the second quarter. LGT Fund Management Co Ltd. now owns 4,459 shares of the software company’s stock valued at $1,103,000 after purchasing an additional 2,790 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADSK shares. Morgan Stanley increased their price target on Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Barclays boosted their price target on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Bank of America increased their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. BMO Capital Markets boosted their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Finally, Berenberg Bank raised their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and a consensus target price of $292.17.

Insiders Place Their Bets

In other news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $253.33, for a total value of $139,331.50. Following the sale, the director now directly owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,762 shares of company stock valued at $10,046,302. Insiders own 0.14% of the company’s stock.

Autodesk Stock Down 0.3 %

ADSK opened at $266.89 on Wednesday. The stock has a market capitalization of $57.52 billion, a P/E ratio of 57.77, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The business’s 50-day simple moving average is $249.22 and its 200-day simple moving average is $239.18.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share 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 analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. Analysts anticipate that Autodesk, Inc. will post 5.73 EPS 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.