Zurcher Kantonalbank Zurich Cantonalbank Has $58.66 Million Position in Autodesk, Inc. (NASDAQ:ADSK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 66.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 212,946 shares of the software company’s stock after buying an additional 85,346 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Autodesk were worth $58,662,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Jag Capital Management LLC acquired a new stake in Autodesk during the third quarter worth approximately $13,861,000. Cetera Investment Advisers boosted its position in shares of Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after acquiring an additional 38,196 shares during the period. Forsta AP Fonden grew its stake in shares of Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares in the last quarter. Bank of Montreal Can raised its stake in Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after purchasing an additional 73,363 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in Autodesk in the 3rd quarter valued at about $12,643,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,232,213 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Down 8.6 %

Autodesk stock opened at $290.64 on Thursday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The firm has a 50 day moving average price of $289.02 and a two-hundred day moving average price of $256.83. The firm has a market cap of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADSK shares. Bank of America lifted their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Robert W. Baird lifted their target price on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Stifel Nicolaus increased their target price on shares of Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler raised their price target on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Mizuho upped their price objective on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $315.38.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.