Wrapmanager Inc. Sells 4,235 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Wrapmanager Inc. decreased its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 54.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,483 shares of the software company's stock after selling 4,235 shares during the period. Wrapmanager Inc.'s holdings in Autodesk were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Johnson Investment Counsel Inc. grew its stake in Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company's stock worth $228,000 after purchasing an additional 45 shares during the period. Beacon Financial Group grew its stake in Autodesk by 4.1% during the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company's stock worth $304,000 after purchasing an additional 49 shares during the period. First Affirmative Financial Network grew its stake in Autodesk by 2.8% during the first quarter. First Affirmative Financial Network now owns 1,802 shares of the software company's stock worth $469,000 after purchasing an additional 49 shares during the period. InTrack Investment Management Inc grew its stake in Autodesk by 2.3% during the second quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company's stock worth $542,000 after purchasing an additional 49 shares during the period. Finally, Pacifica Partners Inc. grew its stake 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 purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 90.24% of the company's stock.

Insiders Place Their Bets

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company's stock, valued at $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company's stock, valued at $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the sale, the director now directly owns 31,899 shares of the company's stock, valued at $7,916,693.82. The disclosure for this sale can be found here. Insiders sold 38,762 shares of company stock valued at $10,029,527 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Autodesk Stock Performance

Autodesk stock traded up $4.49 during mid-day trading on Friday, reaching $263.96. 1,468,637 shares of the company's stock were exchanged, compared to its average volume of 1,661,470. The business's fifty day simple moving average is $248.36 and its 200 day simple moving average is $239.21. The firm has a market capitalization of $56.75 billion, a PE ratio of 57.13, a P/E/G ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ADSK. Barclays raised their target price on Autodesk from $275.00 to $310.00 and gave the stock an "overweight" rating in a research note on Friday, August 30th. BMO Capital Markets increased their price target on Autodesk from $254.00 to $287.00 and gave the stock a "market perform" rating in a report on Friday, August 30th. Morgan Stanley increased their price target on Autodesk from $305.00 to $320.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Robert W. Baird cut their price target on Autodesk from $296.00 to $289.00 and set an "outperform" rating on the stock in a report on Wednesday, May 29th. Finally, HSBC upgraded Autodesk from a "hold" rating to a "buy" rating and increased their price target for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $292.17.

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.