Stoneridge Investment Partners LLC cut its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 30.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,075 shares of the software company's stock after selling 3,955 shares during the period. Stoneridge Investment Partners LLC's holdings in Autodesk were worth $2,500,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ADSK. Private Advisor Group LLC lifted its stake in Autodesk by 1.1% during the first quarter. Private Advisor Group LLC now owns 10,952 shares of the software company's stock worth $2,852,000 after purchasing an additional 120 shares during the last quarter. Choreo LLC increased its stake in Autodesk by 83.4% in the first quarter. Choreo LLC now owns 1,564 shares of the software company's stock valued at $407,000 after purchasing an additional 711 shares during the period. FORA Capital LLC purchased a new stake in shares of Autodesk in the first quarter valued at about $384,000. Whittier Trust Co. boosted its stake in shares of Autodesk by 23.9% during the first quarter. Whittier Trust Co. now owns 2,186 shares of the software company's stock worth $569,000 after buying an additional 422 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Autodesk by 35.3% during the first quarter. Larson Financial Group LLC now owns 2,191 shares of the software company's stock worth $571,000 after buying an additional 572 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ADSK. Bank of America upped their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. DA Davidson started coverage on shares of Autodesk in a report on Friday, September 27th. They issued a "neutral" rating and a $260.00 target price for the company. Stifel Nicolaus boosted their target price on Autodesk from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Barclays lifted their price objective on shares of Autodesk from $275.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group upgraded shares of Autodesk from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $292.95.
Check Out Our Latest Analysis on ADSK
Autodesk Price Performance
Shares of ADSK stock traded up $4.17 during trading hours on Tuesday, reaching $291.79. 1,007,601 shares of the company were exchanged, compared to its average volume of 1,579,123. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $294.13. 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 stock's fifty day moving average is $272.41 and its two-hundred day moving average is $246.11. The company has a market cap of $62.73 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 3.64 and a beta of 1.47.
Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. Sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the transaction, the director now directly owns 30,799 shares in the company, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company's stock, valued at approximately $1,340,944.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the transaction, the director now directly owns 30,799 shares in the company, valued at approximately $8,787,262.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,280 shares of company stock valued at $5,200,929. Company insiders own 0.14% of the company's stock.
About Autodesk
(
Free Report)
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.
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