Motley Fool Wealth Management LLC Lowers Stake in Autodesk, Inc. (NASDAQ:ADSK)

Motley Fool Wealth Management LLC lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,851 shares of the software company's stock after selling 4,296 shares during the period. Motley Fool Wealth Management LLC's holdings in Autodesk were worth $19,243,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. lifted its position in shares of Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock worth $27,000 after purchasing an additional 50 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the 3rd quarter worth about $27,000. Concord Wealth Partners purchased a new stake in shares of Autodesk in the 3rd quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Autodesk in the 3rd quarter worth about $28,000. Finally, Stephens Consulting LLC purchased a new stake in shares of Autodesk in the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of ADSK stock traded up $4.79 during trading hours on Wednesday, reaching $303.75. The company had a trading volume of 938,008 shares, compared to its average volume of 1,594,130. The business has a fifty day moving average price of $291.08 and a 200-day moving average price of $259.23. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The firm has a market cap of $65.31 billion, a PE ratio of 59.32, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 earnings per share. Sell-side analysts predict that Autodesk, Inc. will post 5.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the transaction, the director now owns 31,349 shares of the company's stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred 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 $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have 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

ADSK has been the subject of several research analyst reports. DA Davidson initiated coverage on shares of Autodesk in a research report on Friday, September 27th. They issued a "neutral" rating and a $260.00 target price for the company. Rosenblatt Securities lifted their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Scotiabank initiated coverage on shares of Autodesk in a research report on Monday, November 18th. They set a "sector outperform" rating and a $360.00 price target for the company. Citigroup lifted their price target on shares of Autodesk from $358.00 to $361.00 and gave the company a "buy" rating in a research report on Friday, November 29th. Finally, HSBC cut shares of Autodesk from a "buy" rating to a "hold" rating and set a $290.00 price target for the company. in a research report on Friday, November 29th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.