First Long Island Investors LLC Sells 35,652 Shares of Autodesk, Inc. (NASDAQ:ADSK)

First Long Island Investors LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 97.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 888 shares of the software company's stock after selling 35,652 shares during the quarter. First Long Island Investors LLC's holdings in Autodesk were worth $245,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Jag Capital Management LLC acquired a new position in shares of Autodesk during the third quarter valued at about $13,861,000. Cetera Investment Advisers boosted its holdings in Autodesk by 163.4% in the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company's stock worth $16,035,000 after acquiring an additional 38,196 shares in the last quarter. Forsta AP Fonden grew its stake in Autodesk by 7.9% in the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company's stock valued at $14,215,000 after acquiring an additional 3,800 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Autodesk by 32.0% during the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company's stock valued at $3,702,000 after acquiring an additional 3,259 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company's stock worth $162,302,000 after purchasing an additional 49,500 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Trading Down 2.4 %

ADSK stock traded down $7.50 during midday trading on Friday, hitting $299.15. The company had a trading volume of 2,300,222 shares, compared to its average volume of 1,579,473. The stock has a market cap of $64.32 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 4.00 and a beta of 1.47. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week 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 stock's 50 day moving average price is $281.32 and its 200 day moving average price is $251.23.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly 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. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. As a group, equities research analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group upgraded Autodesk from a "sell" rating to a "neutral" rating and raised their price objective for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Wells Fargo & Company began coverage on Autodesk in a research note on Wednesday, October 16th. They issued an "overweight" rating and a $340.00 price objective on the stock. Oppenheimer increased their target price on shares of Autodesk from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Citigroup set a $325.00 price objective on Autodesk and gave the company a "buy" rating in a research note on Friday, October 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $320.00 target price on shares of Autodesk in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $296.20.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares of the company's stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 286 shares of the business's stock in a transaction on Monday, September 30th. The shares were 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 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 have sold 19,280 shares of company stock valued at $5,232,213 over the last ninety days. 0.14% of the stock is owned by insiders.

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.