ARK Investment Management LLC Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

ARK Investment Management LLC cut its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 20.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,264 shares of the software company's stock after selling 4,027 shares during the quarter. ARK Investment Management LLC's holdings in Autodesk were worth $4,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk during the first quarter worth $25,000. LRI Investments LLC acquired a new position in Autodesk in the 1st quarter worth about $26,000. Olistico Wealth LLC bought a new position in Autodesk in the second quarter valued at about $26,000. Pacifica Partners Inc. boosted its stake in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Autodesk during the third quarter worth about $27,000. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Up 0.0 %

Shares of Autodesk stock traded up $0.05 during trading hours on Friday, reaching $305.56. The company's stock had a trading volume of 968,605 shares, compared to its average volume of 1,238,804. The company has a market capitalization of $65.70 billion, a P/E ratio of 62.49, a P/E/G ratio of 3.84 and a beta of 1.47. The stock's fifty day simple moving average is $275.95 and its two-hundred day simple moving average is $248.05. Autodesk, Inc. has a one year low of $195.32 and a one year high of $307.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. On average, research analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. Oppenheimer raised their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Stifel Nicolaus lifted their price target on shares of Autodesk from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Piper Sandler boosted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a "neutral" rating in a research note on Friday, August 30th. Rosenblatt Securities raised their target price on Autodesk from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group upgraded Autodesk from a "sell" rating to a "neutral" rating and upped their price target for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Eight 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $292.95.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the transaction, the director now directly owns 30,799 shares of the company's stock, valued at $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk 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 approximately $4,616,730. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,200,929 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

Autodesk 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.