Jennison Associates LLC Acquires New Stake in Autodesk, Inc. (NASDAQ:ADSK)
Jennison Associates LLC acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,866 shares of the software company’s stock, valued at approximately $602,000.
Several other large investors have also recently made changes to their positions in the business. Signaturefd LLC grew its position in shares of Autodesk by 7.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the software company’s stock valued at $131,000 after buying an additional 59 shares during the last quarter. Harfst & Associates Inc. grew its position in shares of Autodesk by 3.5% in the 1st quarter. Harfst & Associates Inc. now owns 1,769 shares of the software company’s stock valued at $275,000 after buying an additional 60 shares during the last quarter. L & S Advisors Inc grew its position in shares of Autodesk by 1.3% in the 4th quarter. L & S Advisors Inc now owns 5,577 shares of the software company’s stock valued at $717,000 after buying an additional 70 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Autodesk by 3.5% in the 4th quarter. Commonwealth Bank of Australia now owns 2,148 shares of the software company’s stock valued at $274,000 after buying an additional 72 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Autodesk by 4.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,830 shares of the software company’s stock valued at $235,000 after buying an additional 81 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors.
ADSK has been the topic of a number of recent analyst reports. Argus increased their target price on shares of Autodesk to $184.00 and gave the company an “average” rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Deutsche Bank increased their target price on shares of Autodesk to $180.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. BidaskClub raised shares of Autodesk from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research raised shares of Autodesk from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Thursday, February 28th. Finally, Griffin Securities reaffirmed a “buy” rating and issued a $188.00 target price (up from $175.00) on shares of Autodesk in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $172.31.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The business had revenue of $735.50 million for the quarter, compared to analyst estimates of $740.14 million. Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. Analysts forecast that Autodesk, Inc. will post 1.67 earnings per share for the current year.
In related news, SVP Steven M. Blum sold 16,838 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $168.68, for a total transaction of $2,840,233.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Anagnost sold 10,023 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $154.67, for a total transaction of $1,550,257.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,598 shares of company stock valued at $6,673,861. 0.12% of the stock is owned by company insiders.
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Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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