KBC Group NV Sells 149,626 Shares of Autodesk, Inc. (NASDAQ:ADSK)

KBC Group NV lessened its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,077 shares of the software company's stock after selling 149,626 shares during the quarter. KBC Group NV owned approximately 0.07% of Autodesk worth $44,373,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Autodesk by 23.4% in the first quarter. Empowered Funds LLC now owns 3,457 shares of the software company's stock valued at $900,000 after buying an additional 656 shares during the period. Avantax Advisory Services Inc. lifted its stake in Autodesk by 9.4% in the first quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company's stock worth $369,000 after purchasing an additional 122 shares during the last quarter. Blair William & Co. IL raised its stake in Autodesk by 1.8% in the first quarter. Blair William & Co. IL now owns 13,409 shares of the software company's stock worth $3,492,000 after buying an additional 241 shares in the last quarter. Cumberland Partners Ltd purchased a new position in shares of Autodesk during the first quarter valued at approximately $424,000. Finally, M&G Plc purchased a new stake in shares of Autodesk during the first quarter valued at $41,665,000. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Price Performance

Shares of NASDAQ ADSK traded down $7.50 during midday trading on Friday, hitting $299.15. 2,300,081 shares of the company's stock were exchanged, compared to its average volume of 1,579,473. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $315.73. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company has a market cap of $64.32 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 4.00 and a beta of 1.47. The business's fifty day moving average price is $280.34 and its two-hundred day moving average price is $250.66.

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

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the transaction, the director now directly owns 30,799 shares in the company, valued at approximately $8,787,262.69. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,730 shares of company stock valued at $5,064,430 in the last three months. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup set a $325.00 price objective on shares of Autodesk and gave the company a "buy" rating in a research report on Friday, October 18th. Barclays boosted their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday. Rosenblatt Securities lifted their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Berenberg Bank lifted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a "hold" rating in a research note on Friday, August 30th. Finally, Oppenheimer lifted their target price on shares of Autodesk from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.20.

Autodesk Company 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.