Sanibel Captiva Trust Company Inc. Sells 2,366 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sanibel Captiva Trust Company Inc. trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,400 shares of the software company's stock after selling 2,366 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Autodesk were worth $8,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Livelsberger Financial Advisory acquired a new position in shares of Autodesk during the third quarter worth approximately $27,000. Concord Wealth Partners bought a new position in Autodesk during the third quarter worth $28,000. Transcendent Capital Group LLC acquired a new position in Autodesk during the 3rd quarter valued at $28,000. Central Pacific Bank Trust Division bought a new stake in Autodesk in the 4th quarter valued at $37,000. Finally, Wolff Wiese Magana LLC grew its position in Autodesk by 3,625.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company's stock worth $41,000 after purchasing an additional 145 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities increased their target price on shares of Autodesk from $295.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Stifel Nicolaus lifted their price objective on Autodesk from $340.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Hsbc Global Res lowered Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. DA Davidson initiated coverage on shares of Autodesk in a research note on Friday, September 27th. They set a "neutral" rating and a $260.00 price target on the stock. Finally, Barclays increased their price objective on shares of Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $326.05.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

Autodesk Price Performance

Shares of Autodesk stock traded up $1.37 during midday trading on Friday, reaching $291.45. The company had a trading volume of 1,466,123 shares, compared to its average volume of 1,115,562. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $300.44 and a 200 day simple moving average of $275.58. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 3.36 and a beta of 1.42.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same period last year, the firm earned $1.33 EPS. The business's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current 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.