Geode Capital Management LLC Trims Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Geode Capital Management LLC cut its position in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,670,079 shares of the software company's stock after selling 266,046 shares during the period. Geode Capital Management LLC owned approximately 2.17% of Autodesk worth $1,282,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Starboard Value LP purchased a new stake in shares of Autodesk during the 3rd quarter valued at about $510,189,000. Ninety One UK Ltd boosted its holdings in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company's stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp grew its position in Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company's stock worth $406,554,000 after purchasing an additional 825,165 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company's stock valued at $208,610,000 after buying an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company's stock worth $1,564,170,000 after buying an additional 566,826 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Up 1.1 %

NASDAQ ADSK traded up $3.47 on Wednesday, hitting $307.46. The stock had a trading volume of 1,261,713 shares, compared to its average volume of 1,591,560. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The business's fifty day moving average price is $294.55 and its 200 day moving average price is $262.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $66.10 billion, a price-to-earnings ratio of 60.87, a price-to-earnings-growth ratio of 3.63 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The company's revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the 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 owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares of the company's stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADSK. Berenberg Bank raised their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a "hold" rating in a report on Friday, August 30th. Bank of America upped their price objective on Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, August 30th. Hsbc Global Res downgraded Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Scotiabank initiated coverage on Autodesk in a report on Monday, November 18th. They set a "sector outperform" rating and a $360.00 price target for the company. Finally, The Goldman Sachs Group raised Autodesk from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $316.68.

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.