Autodesk, Inc. (NASDAQ:ADSK) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 101.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 180,394 shares of the software company’s stock after acquiring an additional 90,913 shares during the period. Thrivent Financial for Lutherans’ holdings in Autodesk were worth $49,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jag Capital Management LLC acquired a new position in Autodesk during the 3rd quarter worth approximately $13,861,000. Cetera Investment Advisers boosted its holdings in shares of Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares in the last quarter. Forsta AP Fonden boosted its holdings in shares of Autodesk by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Autodesk by 32.0% in the 3rd quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after buying an additional 3,259 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Autodesk by 8.2% in the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock valued at $162,302,000 after buying an additional 49,500 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

ADSK opened at $302.05 on Tuesday. The company’s 50 day simple moving average is $282.25 and its 200 day simple moving average is $252.44. 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, Inc. has a 1 year low of $195.32 and a 1 year high of $315.73. The stock has a market capitalization of $64.94 billion, a PE ratio of 61.77, a P/E/G ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup set a $325.00 target price on shares of Autodesk and gave the company a “buy” rating in a report on Friday, October 18th. Mizuho set a $260.00 price target on shares of Autodesk in a research note on Friday, October 18th. Berenberg Bank increased their price target on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Rosenblatt Securities increased their price target on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Oppenheimer increased their price target on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.19.

Insider Activity

In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock worth $5,232,213 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Autodesk Profile

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.