Daiwa Securities Group Inc. Has $15.55 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Daiwa Securities Group Inc. cut its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,844 shares of the software company's stock after selling 3,685 shares during the period. Daiwa Securities Group Inc.'s holdings in Autodesk were worth $15,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Beacon Financial Group grew its position in Autodesk by 4.1% in the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company's stock valued at $304,000 after purchasing an additional 49 shares in the last quarter. First Affirmative Financial Network grew its holdings in shares of Autodesk by 2.8% in the 1st quarter. First Affirmative Financial Network now owns 1,802 shares of the software company's stock valued at $469,000 after acquiring an additional 49 shares in the last quarter. InTrack Investment Management Inc increased its position in shares of Autodesk by 2.3% in the second quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company's stock valued at $542,000 after acquiring an additional 49 shares during the last quarter. Pacifica Partners Inc. raised its holdings in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock worth $27,000 after acquiring an additional 50 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its position in Autodesk by 4.3% during the second quarter. Oakworth Capital Inc. now owns 1,209 shares of the software company's stock valued at $299,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

Autodesk Stock Performance

Autodesk stock traded up $1.37 during midday trading on Wednesday, hitting $258.98. The company's stock had a trading volume of 2,148,195 shares, compared to its average volume of 1,665,117. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $55.68 billion, a price-to-earnings ratio of 55.76, a PEG ratio of 3.18 and a beta of 1.48. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a 50-day moving average price of $247.52 and a two-hundred day moving average price of $239.00.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADSK. Bank of America boosted their price target on Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Hsbc Global Res raised shares of Autodesk to a "strong-buy" rating in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price objective on shares of Autodesk from $305.00 to $320.00 and gave the company an "overweight" rating in a research report on Friday, August 30th. Piper Sandler upped their target price on shares of Autodesk from $239.00 to $257.00 and gave the company a "neutral" rating in a report on Friday, August 30th. Finally, HSBC upgraded shares of Autodesk from a "hold" rating to a "buy" rating and raised their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and an average price target of $292.17.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 1,100 shares of the company's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the sale, the director now owns 32,116 shares of the company's stock, valued at $7,264,960.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Steven M. Blum sold 17,344 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company's stock, valued at approximately $4,616,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the company's stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the sale, the director now owns 32,116 shares of the company's stock, valued at $7,264,960.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,275 shares of company stock worth $14,220,661. 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.