Sawgrass Asset Management LLC Trims Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Sawgrass Asset Management LLC lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,267 shares of the software company's stock after selling 1,899 shares during the quarter. Autodesk makes up 1.3% of Sawgrass Asset Management LLC's holdings, making the stock its 29th largest holding. Sawgrass Asset Management LLC's holdings in Autodesk were worth $12,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its position in Autodesk by 9.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,417 shares of the software company's stock worth $369,000 after purchasing an additional 122 shares during the period. Blair William & Co. IL lifted its stake in shares of Autodesk by 1.8% in the first quarter. Blair William & Co. IL now owns 13,409 shares of the software company's stock valued at $3,492,000 after buying an additional 241 shares during the period. Acadian Asset Management LLC boosted its stake in Autodesk by 2.9% in the first quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company's stock valued at $1,482,000 after acquiring an additional 161 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of Autodesk by 67.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 9,273 shares of the software company's stock worth $2,415,000 after purchasing an additional 3,743 shares during the last quarter. Finally, Catalytic Wealth RIA LLC bought a new stake in Autodesk in the 1st quarter valued at about $250,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Berenberg Bank increased their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a "hold" rating in a report on Friday, August 30th. Hsbc Global Res upgraded shares of Autodesk to a "strong-buy" rating in a research note on Tuesday, September 3rd. Piper Sandler lifted their target price on Autodesk from $239.00 to $257.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Barclays upped their target price on Autodesk from $310.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Rosenblatt Securities boosted their price objective on Autodesk from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $296.20.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the business's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares of the company's stock, valued at $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,232,213 in the last quarter. 0.14% of the stock is owned by company insiders.

Autodesk Price Performance

Shares of ADSK traded down $7.50 during mid-day trading on Friday, hitting $299.15. The company's stock had a trading volume of 2,300,222 shares, compared to its average volume of 1,235,289. The firm has a 50-day moving average price of $281.32 and a 200 day moving average price of $251.50. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The stock has a market capitalization of $64.32 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 3.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. Autodesk's quarterly revenue was up 11.9% on a year-over-year basis. On average, 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.