Parnassus Investments LLC Sells 239,224 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Parnassus Investments LLC reduced its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 34.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461,517 shares of the software company's stock after selling 239,224 shares during the quarter. Parnassus Investments LLC owned about 0.22% of Autodesk worth $112,370,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Autodesk by 0.4% during the third quarter. Vanguard Group Inc. now owns 18,728,596 shares of the software company's stock valued at $3,875,134,000 after purchasing an additional 69,039 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Autodesk by 1.2% during the third quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company's stock valued at $624,471,000 after purchasing an additional 35,105 shares during the last quarter. Brown Advisory Inc. boosted its stake in Autodesk by 12.9% in the fourth quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company's stock valued at $696,342,000 after acquiring an additional 327,144 shares during the last quarter. Northern Trust Corp boosted its stake in Autodesk by 1.7% in the third quarter. Northern Trust Corp now owns 2,548,156 shares of the software company's stock valued at $527,239,000 after acquiring an additional 43,293 shares during the last quarter. Finally, Norges Bank bought a new position in Autodesk in the fourth quarter valued at approximately $619,404,000. 90.24% of the stock is owned by institutional investors.

Insider Activity at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 1,628 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the transaction, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares of the company's stock, valued at approximately $3,425,974.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $256.66, for a total transaction of $141,163.00. Following the transaction, the director now owns 33,216 shares in the company, valued at $8,525,218.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,616 shares of company stock valued at $7,944,448. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

ADSK has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of Autodesk from $180.00 to $230.00 and gave the company a "sell" rating in a research note on Friday, March 1st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $320.00 price objective on shares of Autodesk in a research note on Monday, April 1st. BMO Capital Markets raised their price objective on shares of Autodesk from $232.00 to $293.00 and gave the company a "market perform" rating in a research note on Friday, March 1st. Barclays increased their target price on shares of Autodesk from $300.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, March 1st. Finally, Piper Sandler Companies upped their price objective on shares of Autodesk from $234.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $272.94.

Autodesk Stock Up 0.8 %

Autodesk stock traded up $1.67 during mid-day trading on Friday, reaching $201.60. The company's stock had a trading volume of 4,168,136 shares, compared to its average volume of 1,527,126. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The business's 50 day simple moving average is $226.26 and its 200 day simple moving average is $237.00. The company has a market capitalization of $43.44 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $1.26 EPS. The company's quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts anticipate that Autodesk, Inc. will post 5.38 earnings per share 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.