Cumberland Partners Ltd Boosts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Cumberland Partners Ltd raised its position in Autodesk, Inc. (NASDAQ:ADSKGet Rating) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the software company’s stock after buying an additional 200 shares during the quarter. Cumberland Partners Ltd’s holdings in Autodesk were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ADSK. Russell Investments Group Ltd. increased its stake in Autodesk by 5.8% in the fourth quarter. Russell Investments Group Ltd. now owns 370,378 shares of the software company’s stock valued at $104,154,000 after purchasing an additional 20,146 shares during the period. Exchange Traded Concepts LLC increased its position in Autodesk by 530.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 130,995 shares of the software company’s stock worth $36,834,000 after purchasing an additional 110,223 shares during the period. Morgan Stanley raised its stake in shares of Autodesk by 4.7% during the 3rd quarter. Morgan Stanley now owns 674,197 shares of the software company’s stock worth $192,261,000 after buying an additional 30,496 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Autodesk during the 3rd quarter worth $1,734,000. Finally, YorkBridge Wealth Partners LLC grew its stake in Autodesk by 4.8% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 15,095 shares of the software company’s stock valued at $4,245,000 after acquiring an additional 690 shares during the last quarter. 89.55% of the stock is owned by institutional investors and hedge funds.

In related news, CAO Stephen W. Hope sold 1,626 shares of the business’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $212.30, for a total value of $345,199.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Deborah Clifford sold 1,820 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $212.30, for a total value of $386,386.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,458 shares of company stock valued at $1,545,628. 0.11% of the stock is currently owned by insiders.

Several brokerages have commented on ADSK. StockNews.com upgraded Autodesk from a “hold” rating to a “buy” rating in a research note on Tuesday. Rosenblatt Securities lowered their price target on Autodesk from $340.00 to $300.00 and set a “buy” rating for the company in a report on Friday, February 25th. The Goldman Sachs Group restated a “sell” rating and set a $220.00 price target (down previously from $250.00) on shares of Autodesk in a research report on Tuesday, March 8th. Argus dropped their price target on shares of Autodesk from $360.00 to $290.00 in a research report on Monday, February 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Autodesk from $355.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $285.35.

Shares of ADSK traded down $1.62 during midday trading on Tuesday, reaching $190.96. The stock had a trading volume of 22,710 shares, compared to its average volume of 2,033,114. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.68. The firm has a market cap of $41.59 billion, a PE ratio of 86.36 and a beta of 1.44. Autodesk, Inc. has a one year low of $175.41 and a one year high of $344.39. The firm has a 50 day simple moving average of $200.76 and a 200-day simple moving average of $241.45.

Autodesk (NASDAQ:ADSKGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The software company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.07. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, research analysts forecast that Autodesk, Inc. will post 4.25 EPS for the current fiscal year.

Autodesk Profile (Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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