NFJ Investment Group LLC Sells 5,629 Shares of Autodesk, Inc. (NASDAQ:ADSK)

NFJ Investment Group LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 36.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,657 shares of the software company's stock after selling 5,629 shares during the period. NFJ Investment Group LLC's holdings in Autodesk were worth $2,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacifica Partners Inc. raised its holdings 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 in the last quarter. Livelsberger Financial Advisory purchased a new position in Autodesk during the 3rd quarter worth approximately $27,000. Concord Wealth Partners purchased a new position in Autodesk during the 3rd quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at $28,000. Finally, Stephens Consulting LLC purchased a new position in shares of Autodesk during the 2nd quarter valued at $32,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Autodesk from a "sell" rating to a "neutral" rating and boosted their price target for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Rosenblatt Securities boosted their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. 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 report on Friday, August 30th. Finally, Mizuho upped their price objective on shares of Autodesk from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $316.68.

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following 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 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the 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 sale, the director now directly owns 30,799 shares in the company, valued at $8,787,262.69. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

NASDAQ:ADSK traded up $4.79 during mid-day trading on Wednesday, hitting $303.75. The company's stock had a trading volume of 938,008 shares, compared to its average volume of 1,594,130. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 59.32, a P/E/G ratio of 3.50 and a beta of 1.43. The stock has a fifty day moving average of $291.08 and a 200-day moving average of $259.23.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 earnings per share. As a group, equities analysts forecast that Autodesk, Inc. will post 5.75 EPS for the current fiscal year.

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.