Hsbc Holdings PLC Sells 61,164 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Hsbc Holdings PLC trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 805,693 shares of the software company's stock after selling 61,164 shares during the period. Hsbc Holdings PLC owned approximately 0.37% of Autodesk worth $199,170,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co grew its position in shares of Autodesk by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 19,644 shares of the software company's stock valued at $4,861,000 after acquiring an additional 98 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Autodesk by 18.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,117 shares of the software company's stock worth $5,671,000 after purchasing an additional 3,567 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Autodesk by 16.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,518 shares of the software company's stock valued at $871,000 after buying an additional 498 shares in the last quarter. Argent Trust Co raised its position in shares of Autodesk by 14.5% during the 2nd quarter. Argent Trust Co now owns 6,925 shares of the software company's stock valued at $1,714,000 after buying an additional 877 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its position in shares of Autodesk by 21.3% during the 2nd quarter. E Fund Management Co. Ltd. now owns 4,323 shares of the software company's stock valued at $1,070,000 after buying an additional 758 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADSK. Hsbc Global Res upgraded shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, September 3rd. Mizuho increased their target price on shares of Autodesk from $230.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. Royal Bank of Canada increased their target price on shares of Autodesk from $290.00 to $313.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. Stifel Nicolaus raised their price target on shares of Autodesk from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Finally, BMO Capital Markets increased their price objective on shares of Autodesk from $254.00 to $287.00 and gave the stock a "market perform" rating in a research note on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and a consensus target price of $292.17.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the business's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares of the company's stock, valued at $8,610,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Steven M. Blum sold 19,693 shares of the business's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk 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 sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,762 shares of company stock valued at $10,046,302. Insiders own 0.14% of the company's stock.

Autodesk Stock Performance

Shares of ADSK traded down $2.68 during midday trading on Wednesday, hitting $264.21. 1,155,776 shares of the stock traded hands, compared to its average volume of 1,653,317. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The firm has a market capitalization of $56.94 billion, a PE ratio of 57.19, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The business's 50 day moving average price is $249.56 and its two-hundred day moving average price is $239.35.

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 for the quarter, beating analysts' consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion during 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.12 EPS. Equities research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

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.