Point72 Hong Kong Ltd Takes $424,000 Position in Autodesk, Inc. (NASDAQ:ADSK)
Point72 Hong Kong Ltd acquired a new stake in Autodesk, Inc. (NASDAQ:ADSK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,310 shares of the software company’s stock, valued at approximately $424,000.
Several other institutional investors have also recently made changes to their positions in the company. Cantillon Capital Management LLC purchased a new stake in shares of Autodesk during the fourth quarter valued at $236,439,000. TPG Group Holdings SBS Advisors Inc. purchased a new stake in shares of Autodesk during the third quarter valued at $120,766,000. Loomis Sayles & Co. L P lifted its holdings in shares of Autodesk by 3.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,021,344 shares of the software company’s stock valued at $2,021,976,000 after purchasing an additional 333,254 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of Autodesk by 12.5% during the fourth quarter. Pictet Asset Management Ltd. now owns 2,426,417 shares of the software company’s stock valued at $445,151,000 after purchasing an additional 269,352 shares during the last quarter. Finally, Valiant Capital Management L.P. purchased a new stake in shares of Autodesk during the fourth quarter valued at $48,654,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
Several research firms recently weighed in on ADSK. Credit Suisse Group upped their price target on Autodesk from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Barclays reaffirmed a “buy” rating and issued a $230.00 target price on shares of Autodesk in a research report on Sunday, March 1st. Mizuho upped their price target on Autodesk from $190.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on Autodesk from $175.00 to $181.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Finally, Citigroup upped their price target on Autodesk from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $204.91.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 27th. The software company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Autodesk had a negative return on equity of 165.74% and a net margin of 6.55%. The firm had revenue of $899.30 million during the quarter, compared to the consensus estimate of $891.06 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities analysts forecast that Autodesk, Inc. will post 2.89 earnings per share for the current year.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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