Sumitomo Mitsui Trust Group Inc. Buys 38,288 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sumitomo Mitsui Trust Group Inc. raised its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 885,843 shares of the software company’s stock after acquiring an additional 38,288 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.41% of Autodesk worth $244,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Financial Group LLC grew its holdings in Autodesk by 0.8% during the third quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after purchasing an additional 35 shares during the period. Avitas Wealth Management LLC lifted its position in shares of Autodesk by 0.8% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after buying an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in shares of Autodesk by 1.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after acquiring an additional 44 shares during the period. Johnson Investment Counsel Inc. increased its holdings in Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after acquiring an additional 45 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings in Autodesk by 2.6% in the 3rd quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock worth $516,000 after acquiring an additional 47 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Trading Down 1.3 %

NASDAQ ADSK opened at $309.73 on Wednesday. The stock’s 50-day simple moving average is $277.06 and its two-hundred day simple moving average is $249.18. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $314.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $66.59 billion, a price-to-earnings ratio of 63.34, a PEG ratio of 3.88 and a beta of 1.47.

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

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the sale, the director now directly owns 30,799 shares of the company’s stock, valued at $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,280 shares of company stock valued at $5,200,929. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Rosenblatt Securities raised their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Berenberg Bank boosted their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Bank of America raised their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Oppenheimer lifted their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $292.95.

Autodesk Company 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.