National Bank of Canada FI Sells 228,791 Shares of Autodesk, Inc. (NASDAQ:ADSK)

National Bank of Canada FI cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 42.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,077 shares of the software company's stock after selling 228,791 shares during the period. National Bank of Canada FI owned 0.14% of Autodesk worth $84,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new position in Autodesk during the third quarter worth about $27,000. Concord Wealth Partners purchased a new stake in Autodesk in the third quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new stake in Autodesk during the third quarter valued at approximately $28,000. Stephens Consulting LLC purchased a new position in Autodesk in the 2nd quarter worth approximately $32,000. Finally, GPS Wealth Strategies Group LLC grew its stake in Autodesk by 94.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 136 shares of the software company's stock worth $34,000 after buying an additional 66 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Stock Up 0.8 %

Shares of NASDAQ ADSK traded up $2.54 on Friday, reaching $307.71. 1,377,533 shares of the company's stock traded hands, compared to its average volume of 1,673,155. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business's 50 day simple moving average is $293.16 and its two-hundred day simple moving average is $261.03. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a market cap of $66.16 billion, a price-to-earnings ratio of 61.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.76 EPS 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 on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,936 shares of company stock valued at $549,333. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADSK. DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They set a "neutral" rating and a $260.00 price objective for the company. Piper Sandler upped their price objective on Autodesk from $257.00 to $311.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. KeyCorp raised their price objective on Autodesk from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Bank of America boosted their target price on Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Finally, Mizuho increased their price target on shares of Autodesk from $260.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $316.68.

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.