New Mexico Educational Retirement Board Sells 1,800 Shares of Autodesk, Inc. (ADSK)
New Mexico Educational Retirement Board reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.1% during the second quarter, Holdings Channel reports. The fund owned 18,057 shares of the software company’s stock after selling 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Autodesk were worth $2,001,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. British Columbia Investment Management Corp boosted its stake in shares of Autodesk by 11.8% in the first quarter. British Columbia Investment Management Corp now owns 112,143 shares of the software company’s stock worth $9,697,000 after buying an additional 11,871 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Autodesk during the first quarter worth about $656,000. Glaxis Capital Management LLC acquired a new stake in shares of Autodesk during the second quarter worth about $2,189,000. Bank of Nova Scotia boosted its stake in shares of Autodesk by 931.6% in the first quarter. Bank of Nova Scotia now owns 44,700 shares of the software company’s stock worth $3,865,000 after buying an additional 40,367 shares during the last quarter. Finally, Private Asset Management Inc. boosted its stake in shares of Autodesk by 1.6% in the second quarter. Private Asset Management Inc. now owns 36,782 shares of the software company’s stock worth $3,708,000 after buying an additional 570 shares during the last quarter. 97.90% of the stock is owned by institutional investors.
Autodesk, Inc. (ADSK) opened at 104.98 on Friday. Autodesk, Inc. has a 1-year low of $60.95 and a 1-year high of $115.25. The stock has a 50 day moving average price of $107.17 and a 200 day moving average price of $95.79. The firm’s market cap is $23.14 billion.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) EPS for the quarter, topping the Zacks’ 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 return on equity of 36.65% and a negative net margin of 26.99%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. On average, analysts anticipate that Autodesk, Inc. will post ($0.57) EPS for the current year.
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A number of equities research analysts have recently issued reports on ADSK shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Autodesk in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Autodesk from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. William Blair reaffirmed an “outperform” rating on shares of Autodesk in a research report on Sunday, May 21st. Morgan Stanley raised shares of Autodesk from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $69.00 to $115.00 in a research report on Monday, May 1st. Finally, Credit Suisse Group began coverage on shares of Autodesk in a research report on Thursday, April 27th. They set an “outperform” rating and a $115.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Autodesk presently has an average rating of “Buy” and an average target price of $104.50.
In other Autodesk news, SVP Jan Becker sold 2,865 shares of Autodesk stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $95.73, for a total value of $274,266.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven M. Blum sold 6,638 shares of Autodesk stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $112.71, for a total value of $748,168.98. The disclosure for this sale can be found here. Insiders sold a total of 170,570 shares of company stock worth $17,865,037 over the last ninety days. 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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