Darsana Capital Partners LP Takes Position in Autodesk, Inc. (ADSK)
Darsana Capital Partners LP bought a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,525,000 shares of the software company’s stock, valued at approximately $112,865,000. Autodesk comprises approximately 5.5% of Darsana Capital Partners LP’s holdings, making the stock its 8th largest position. Darsana Capital Partners LP owned approximately 0.69% of Autodesk at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. Henderson Group PLC increased its stake in Autodesk by 12.0% in the second quarter. Henderson Group PLC now owns 26,237 shares of the software company’s stock valued at $1,420,000 after buying an additional 2,809 shares in the last quarter. BB&T Corp increased its stake in Autodesk by 2.5% in the second quarter. BB&T Corp now owns 113,950 shares of the software company’s stock valued at $6,170,000 after buying an additional 2,764 shares in the last quarter. Ngam Advisors L.P. increased its stake in Autodesk by 5.8% in the second quarter. Ngam Advisors L.P. now owns 636,545 shares of the software company’s stock valued at $34,462,000 after buying an additional 34,678 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Autodesk during the second quarter valued at approximately $489,000. Finally, Noesis Capital Mangement Corp increased its stake in Autodesk by 4.4% in the second quarter. Noesis Capital Mangement Corp now owns 89,330 shares of the software company’s stock valued at $4,836,000 after buying an additional 3,735 shares in the last quarter. Institutional investors and hedge funds own 97.13% of the company’s stock.
Autodesk, Inc. (NASDAQ:ADSK) traded up 0.92% during trading on Thursday, reaching $85.14. 1,830,356 shares of the company’s stock were exchanged. The stock’s market cap is $18.95 billion. The firm has a 50 day moving average of $81.10 and a 200-day moving average of $72.94. Autodesk, Inc. has a 12 month low of $47.40 and a 12 month high of $85.46.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 29th. The software company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. The firm earned $489.60 million during the quarter. Autodesk had a negative return on equity of 13.74% and a negative net margin of 20.30%. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Autodesk, Inc. will post ($0.56) earnings per share for the current fiscal year.
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ADSK has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 31st. Bank of America Corporation restated a “sell” rating on shares of Autodesk in a report on Thursday, November 17th. Wedbush raised their price target on shares of Autodesk to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, November 22nd. Barclays PLC restated an “overweight” rating and set a $81.00 price target (up previously from $75.00) on shares of Autodesk in a report on Tuesday, November 22nd. Finally, Pacific Crest restated an “overweight” rating and set a $81.00 price target on shares of Autodesk in a report on Wednesday, November 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Autodesk has a consensus rating of “Hold” and an average target price of $73.86.
In related news, CEO Carl Bass sold 100,000 shares of the firm’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $76.94, for a total value of $7,694,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Amarpreet Hanspal sold 39,736 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $76.01, for a total value of $3,020,333.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,582 shares of company stock valued at $32,045,429. Insiders own 6.20% of the company’s stock.
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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