Melqart Asset Management UK Ltd Sells 1,322 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Melqart Asset Management UK Ltd lowered its stake in Autodesk, Inc. (NASDAQ:ADSK) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,818 shares of the software company’s stock after selling 1,322 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Autodesk were worth $5,770,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its holdings in shares of Autodesk by 22.5% in the first quarter. Lindbrook Capital LLC now owns 185 shares of the software company’s stock worth $51,000 after acquiring an additional 34 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Autodesk by 1.1% in the first quarter. Sigma Planning Corp now owns 3,432 shares of the software company’s stock valued at $951,000 after buying an additional 36 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Autodesk by 0.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,946 shares of the software company’s stock valued at $3,865,000 after buying an additional 39 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Autodesk by 3.6% in the first quarter. Coldstream Capital Management Inc. now owns 1,129 shares of the software company’s stock valued at $313,000 after buying an additional 39 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Autodesk by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 5,511 shares of the software company’s stock valued at $1,683,000 after buying an additional 42 shares during the period. 86.43% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Autodesk in a research note on Monday, May 31st. Mizuho upped their price objective on Autodesk from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. Stifel Nicolaus assumed coverage on Autodesk in a research note on Tuesday, May 25th. They issued a “buy” rating and a $342.00 price objective for the company. Barclays increased their target price on shares of Autodesk from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, May 28th. Finally, Canaccord Genuity reissued a “buy” rating and set a $330.00 target price (up previously from $315.00) on shares of Autodesk in a research report on Friday, May 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Autodesk currently has a consensus rating of “Buy” and an average price target of $312.40.

NASDAQ:ADSK traded up $6.32 during trading hours on Thursday, hitting $308.10. 30,135 shares of the company traded hands, compared to its average volume of 981,496. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.48 and a current ratio of 0.48. The business’s 50-day simple moving average is $285.98. Autodesk, Inc. has a one year low of $215.83 and a one year high of $321.13. The firm has a market cap of $67.79 billion, a P/E ratio of 52.83, a PEG ratio of 3.04 and a beta of 1.33.

Autodesk (NASDAQ:ADSK) last released its earnings results on Wednesday, May 26th. The software company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.09. The company had revenue of $989.30 million for the quarter, compared to analysts’ expectations of $964.76 million. Autodesk had a return on equity of 104.82% and a net margin of 33.31%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, analysts forecast that Autodesk, Inc. will post 2.78 earnings per share for the current fiscal year.

Autodesk Profile

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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