Fernbridge Capital Management LP Takes Position in Autodesk, Inc. (NASDAQ:ADSK)

Fernbridge Capital Management LP bought a new position in shares of Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 257,966 shares of the software company’s stock, valued at approximately $63,834,000. Autodesk accounts for about 4.2% of Fernbridge Capital Management LP’s holdings, making the stock its 11th largest holding. Fernbridge Capital Management LP owned 0.12% of Autodesk as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd increased its position in Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares in the last quarter. FIL Ltd boosted its position in shares of Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after acquiring an additional 479,559 shares during the period. Finally, Morningstar Investment Services LLC grew its stake in shares of Autodesk by 349.8% in the fourth quarter. Morningstar Investment Services LLC now owns 491,224 shares of the software company’s stock valued at $120,306,000 after acquiring an additional 382,026 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ADSK. Royal Bank of Canada boosted their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. BMO Capital Markets boosted their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Morgan Stanley raised their price objective on Autodesk from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Citigroup upped their target price on Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Oppenheimer raised their price target on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Seven investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Price Performance

Shares of ADSK opened at $267.29 on Friday. The business has a 50-day simple moving average of $250.26 and a two-hundred day simple moving average of $239.55. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The stock has a market cap of $57.60 billion, a PE ratio of 57.85, a PEG ratio of 3.29 and a beta of 1.48. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $1.12 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $253.33, for a total transaction of $139,331.50. Following the transaction, the director now directly owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the transaction, the director now owns 31,016 shares in the company, valued at approximately $7,857,283.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders have sold a total of 38,762 shares of company stock valued at $10,046,302 over the last 90 days. 0.14% of the stock is owned by insiders.

Autodesk Company 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.