Gateway Investment Advisers LLC Has $4.16 Million Position in Autodesk, Inc. (NASDAQ:ADSK)
Gateway Investment Advisers LLC cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 11.7% during the second quarter, Holdings Channel reports. The fund owned 41,253 shares of the software company’s stock after selling 5,456 shares during the period. Gateway Investment Advisers LLC’s holdings in Autodesk were worth $4,159,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. NBT Bank N A NY acquired a new position in shares of Autodesk during the first quarter worth approximately $210,000. Venturi Wealth Management LLC acquired a new position in shares of Autodesk during the first quarter worth approximately $211,000. Joel Isaacson & Co. LLC acquired a new position in shares of Autodesk during the first quarter worth approximately $216,000. Segall Bryant & Hamill LLC acquired a new position in shares of Autodesk during the first quarter worth approximately $225,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Autodesk during the first quarter worth approximately $230,000. 97.39% of the stock is owned by institutional investors and hedge funds.
Shares of Autodesk, Inc. (NASDAQ:ADSK) opened at 108.74 on Monday. Autodesk, Inc. has a 12-month low of $56.80 and a 12-month high of $114.68. The company’s market cap is $23.97 billion. The stock has a 50 day moving average of $106.57 and a 200 day moving average of $89.78.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.08. The business had revenue of $485.70 million for the quarter, compared to analysts’ expectations of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Analysts forecast that Autodesk, Inc. will post ($0.58) earnings per share for the current year.
A number of equities analysts have commented on ADSK shares. Evercore ISI reissued a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a research note on Friday, May 19th. Canaccord Genuity reissued a “buy” rating and issued a $120.00 price objective (up from $105.00) on shares of Autodesk in a research note on Sunday, May 21st. BidaskClub cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. TheStreet cut shares of Autodesk from a “c-” rating to a “d” rating in a research note on Thursday, May 18th. Finally, Zacks Investment Research raised shares of Autodesk from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $103.16.
In other news, Director Betsy Rafael sold 2,354 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $106.24, for a total transaction of $250,088.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carl Bass sold 27,201 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $101.73, for a total transaction of $2,767,157.73. The disclosure for this sale can be found here. Insiders have sold 170,570 shares of company stock worth $17,865,037 in the last three months. Corporate insiders own 6.10% of the company’s stock.
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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