Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,364 shares of the software company's stock after selling 2,690 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Autodesk worth $33,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CX Institutional boosted its holdings in shares of Autodesk by 7.6% in the 3rd quarter. CX Institutional now owns 1,549 shares of the software company's stock worth $427,000 after purchasing an additional 110 shares during the period. Creative Planning boosted its stake in Autodesk by 6.3% during the third quarter. Creative Planning now owns 40,030 shares of the software company's stock worth $11,028,000 after buying an additional 2,371 shares during the period. Asset Dedication LLC boosted its stake in Autodesk by 87.9% during the third quarter. Asset Dedication LLC now owns 171 shares of the software company's stock worth $47,000 after buying an additional 80 shares during the period. Probity Advisors Inc. purchased a new stake in shares of Autodesk in the third quarter valued at $226,000. Finally, Global Retirement Partners LLC raised its stake in shares of Autodesk by 2.8% in the third quarter. Global Retirement Partners LLC now owns 5,980 shares of the software company's stock valued at $1,647,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 90.24% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADSK shares. Rosenblatt Securities raised their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. BMO Capital Markets boosted their price objective on Autodesk from $287.00 to $308.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Piper Sandler upgraded Autodesk from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Scotiabank began coverage on shares of Autodesk in a research note on Monday, November 18th. They set a "sector outperform" rating and a $360.00 target price for the company. Finally, Robert W. Baird upped their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and a consensus price target of $333.77.

Autodesk Stock Down 2.3 %

Shares of NASDAQ ADSK traded down $7.06 during trading hours on Tuesday, hitting $295.66. 2,722,224 shares of the stock were exchanged, compared to its average volume of 1,336,524. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a fifty day moving average price of $299.33 and a 200-day moving average price of $284.26. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $63.57 billion, a PE ratio of 58.66, a PEG ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same period last year, the business earned $1.33 EPS. Autodesk's revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Autodesk, Inc. will post 5.76 EPS for the current year.

About Autodesk

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.