Burney Co. Reduces Position in Autodesk (ADSK)

Burney Co. decreased its stake in shares of Autodesk (NASDAQ:ADSK) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,772 shares of the software company’s stock after selling 630 shares during the quarter. Burney Co.’s holdings in Autodesk were worth $2,483,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADSK. Viking Global Investors LP boosted its position in shares of Autodesk by 68.5% during the fourth quarter. Viking Global Investors LP now owns 4,094,027 shares of the software company’s stock worth $429,177,000 after acquiring an additional 1,664,658 shares during the last quarter. Parnassus Investments CA boosted its position in shares of Autodesk by 100.0% during the fourth quarter. Parnassus Investments CA now owns 1,800,000 shares of the software company’s stock worth $188,694,000 after acquiring an additional 900,000 shares during the last quarter. Millennium Management LLC boosted its position in shares of Autodesk by 337.9% during the fourth quarter. Millennium Management LLC now owns 648,395 shares of the software company’s stock worth $67,971,000 after acquiring an additional 500,322 shares during the last quarter. Global Thematic Partners LLC bought a new position in shares of Autodesk during the first quarter worth $49,732,000. Finally, Carillon Tower Advisers Inc. bought a new position in shares of Autodesk during the fourth quarter worth $28,310,000. Hedge funds and other institutional investors own 95.77% of the company’s stock.

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In other news, VP Paul D. Underwood sold 223 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $124.56, for a total value of $27,776.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Crawford W. Beveridge sold 1,500 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $133.11, for a total transaction of $199,665.00. The disclosure for this sale can be found here. In the last three months, insiders sold 48,475 shares of company stock worth $6,094,232. Insiders own 0.14% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Deutsche Bank restated a “buy” rating and set a $150.00 target price on shares of Autodesk in a research report on Monday. Zacks Investment Research lowered shares of Autodesk from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. Morgan Stanley upped their target price on shares of Autodesk to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer increased their price objective on shares of Autodesk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, March 7th. Finally, KeyCorp increased their price objective on shares of Autodesk from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $148.05.

Shares of ADSK opened at $136.16 on Wednesday. Autodesk has a twelve month low of $131.58 and a twelve month high of $137.43. The firm has a market capitalization of $29.84 billion, a PE ratio of -85.10 and a beta of 1.72. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of -6.20.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, March 6th. The software company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Autodesk had a negative net margin of 27.57% and a negative return on equity of 206.64%. The business had revenue of $554.00 million for the quarter, compared to the consensus estimate of $544.74 million. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. equities research analysts predict that Autodesk will post -0.03 earnings per share for the current year.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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