Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Meritage Group LP

Meritage Group LP cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,307,797 shares of the software company's stock after selling 110,626 shares during the period. Autodesk makes up about 8.4% of Meritage Group LP's holdings, making the stock its 2nd biggest position. Meritage Group LP owned 0.61% of Autodesk worth $360,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the 3rd quarter valued at $27,000. Concord Wealth Partners acquired a new position in Autodesk in the 3rd quarter worth about $28,000. Transcendent Capital Group LLC acquired a new position in Autodesk in the 3rd quarter worth about $28,000. Stephens Consulting LLC acquired a new stake in shares of Autodesk during the 2nd quarter valued at about $32,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Autodesk by 94.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 136 shares of the software company's stock worth $34,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADSK. Bank of America boosted their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price target on shares of Autodesk from $320.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Piper Sandler boosted their price target on Autodesk from $257.00 to $311.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. KeyCorp lifted their price objective on Autodesk from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Finally, Morgan Stanley lifted their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $316.68.

Autodesk Trading Up 0.8 %

Shares of NASDAQ ADSK traded up $2.54 during midday trading on Monday, reaching $307.71. 1,377,635 shares of the stock were exchanged, compared to its average volume of 1,709,684. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The business has a 50-day simple moving average of $293.16 and a two-hundred day simple moving average of $261.03. The company has a market capitalization of $66.16 billion, a price-to-earnings ratio of 61.05, a P/E/G ratio of 3.63 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, equities research analysts expect that Autodesk, Inc. will post 5.76 EPS for the current year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company's stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock valued at $549,333 over the last three months. Company insiders own 0.14% of the company's stock.

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.