Rathbones Group PLC Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Rathbones Group PLC lowered its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 33.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,526 shares of the software company's stock after selling 70,355 shares during the quarter. Rathbones Group PLC owned about 0.07% of Autodesk worth $35,021,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company's stock worth $5,052,732,000 after purchasing an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company's stock valued at $1,639,279,000 after acquiring an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd grew its position 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 acquiring an additional 1,108,973 shares in the last quarter. FIL Ltd increased its stake in Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company's stock worth $711,216,000 after acquiring an additional 479,559 shares during the last quarter. Finally, Norges Bank purchased a new stake in Autodesk during the fourth quarter valued at approximately $619,404,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

Autodesk Stock Up 1.7 %

NASDAQ ADSK traded up $4.49 during trading on Friday, hitting $263.96. The company's stock had a trading volume of 1,468,637 shares, compared to its average volume of 1,661,470. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The company has a market cap of $56.75 billion, a PE ratio of 57.13, a P/E/G ratio of 3.29 and a beta of 1.48. 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 business's 50 day simple moving average is $248.36 and its 200-day simple moving average is $239.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. On average, equities analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the firm's stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now directly owns 31,566 shares in the company, valued at $7,418,010. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated 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 in the company, valued at approximately $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 company's stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,762 shares of company stock valued at $10,029,527. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of recent research reports. Citigroup lifted their target price on Autodesk from $316.00 to $325.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. Berenberg Bank boosted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a "hold" rating in a research report on Friday, August 30th. Barclays raised their target price on shares of Autodesk from $275.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Hsbc Global Res upgraded shares of Autodesk to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus raised their price objective on shares of Autodesk from $290.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Seven research 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 stock. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and an average target price of $292.17.

Autodesk Company 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.