Frontier Wealth Management LLC Buys Shares of 2,040 Autodesk, Inc. (ADSK)
Frontier Wealth Management LLC bought a new position in Autodesk, Inc. (NASDAQ:ADSK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,040 shares of the software company’s stock, valued at approximately $206,000.
Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Autodesk by 13.9% in the 1st quarter. FMR LLC now owns 30,271,360 shares of the software company’s stock valued at $2,617,565,000 after purchasing an additional 3,698,259 shares during the period. Vanguard Group Inc. boosted its position in shares of Autodesk by 2.3% during the second quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after purchasing an additional 466,724 shares in the last quarter. BlackRock Inc. boosted its position in shares of Autodesk by 4.8% during the second quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after purchasing an additional 735,647 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Autodesk by 2.8% in the first quarter. Loomis Sayles & Co. L P now owns 9,615,501 shares of the software company’s stock worth $831,453,000 after purchasing an additional 262,238 shares during the period. Finally, State Street Corp grew its stake in Autodesk by 0.5% in the first quarter. State Street Corp now owns 7,978,179 shares of the software company’s stock worth $689,876,000 after purchasing an additional 37,455 shares during the period. 94.79% of the stock is owned by hedge funds and other institutional investors.
Autodesk, Inc. (NASDAQ ADSK) opened at 112.08 on Monday. The company’s 50-day moving average is $111.53 and its 200-day moving average is $101.45. Autodesk, Inc. has a 12 month low of $67.15 and a 12 month high of $119.73. The company’s market cap is $24.57 billion.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $501.80 million during the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. Autodesk’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. On average, equities research analysts expect that Autodesk, Inc. will post ($0.54) EPS for the current fiscal year.
A number of research firms have issued reports on ADSK. BidaskClub downgraded Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Canaccord Genuity restated a “buy” rating and set a $120.00 target price on shares of Autodesk in a report on Wednesday, June 21st. Evercore ISI restated a “buy” rating and set a $135.00 target price on shares of Autodesk in a report on Wednesday, September 20th. Barclays PLC upped their target price on shares of Autodesk from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $115.00 target price on shares of Autodesk in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $116.35.
In other news, Director Carl Bass sold 13,377 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $99.95, for a total value of $1,337,031.15. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lorrie M. Norrington sold 25,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $111.12, for a total value of $2,778,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 99,762 shares of company stock worth $10,713,784 in the last 90 days. 6.10% of the stock is currently owned by company insiders.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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