New Mexico Educational Retirement Board Lowers Position in Autodesk, Inc. (ADSK)

New Mexico Educational Retirement Board reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,057 shares of the software company’s stock after selling 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Autodesk were worth $2,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tdam USA Inc. raised its position in Autodesk by 0.3% in the second quarter. Tdam USA Inc. now owns 7,695 shares of the software company’s stock valued at $780,000 after buying an additional 20 shares in the last quarter. Cleararc Capital Inc. raised its position in Autodesk by 0.4% in the first quarter. Cleararc Capital Inc. now owns 4,796 shares of the software company’s stock valued at $415,000 after buying an additional 21 shares in the last quarter. Tyers Asset Management LLC raised its position in Autodesk by 0.7% in the first quarter. Tyers Asset Management LLC now owns 4,464 shares of the software company’s stock valued at $386,000 after buying an additional 32 shares in the last quarter. Elkfork Partners LLC raised its position in Autodesk by 0.7% in the first quarter. Elkfork Partners LLC now owns 6,138 shares of the software company’s stock valued at $531,000 after buying an additional 44 shares in the last quarter. Finally, Meadow Creek Investment Management LLC raised its position in Autodesk by 0.7% in the first quarter. Meadow Creek Investment Management LLC now owns 7,812 shares of the software company’s stock valued at $675,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 97.90% of the company’s stock.

Shares of Autodesk, Inc. (NASDAQ:ADSK) opened at 104.98 on Friday. The company’s market capitalization is $23.14 billion. Autodesk, Inc. has a 12-month low of $60.95 and a 12-month high of $115.25. The company’s 50 day moving average is $107.17 and its 200 day moving average is $95.79.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.08. The business had revenue of $485.70 million for the quarter, compared to the consensus estimate of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) earnings per share. Analysts expect that Autodesk, Inc. will post ($0.57) earnings per share for the current fiscal year.

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Several research analysts have weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 price objective on shares of Autodesk in a research note on Wednesday, June 21st. ValuEngine upgraded shares of Autodesk from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Pacific Crest reiterated an “overweight” rating and issued a $105.00 price objective on shares of Autodesk in a research note on Monday, May 8th. Finally, Evercore ISI reiterated a “buy” rating and issued a $96.00 price objective on shares of Autodesk in a research note on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $104.50.

In related news, SVP Jan Becker sold 2,865 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $95.73, for a total transaction of $274,266.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Paul D. Underwood sold 6,490 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.93, for a total transaction of $726,425.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,570 shares of company stock worth $17,865,037. 6.10% of the stock is owned by corporate insiders.

About Autodesk

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).

Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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