Autodesk, Inc. (NASDAQ:ADSK) Holdings Trimmed by Snider Financial Group

Snider Financial Group lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 26.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,818 shares of the software company's stock after selling 5,314 shares during the period. Autodesk makes up about 1.5% of Snider Financial Group's investment portfolio, making the stock its 22nd largest position. Snider Financial Group's holdings in Autodesk were worth $4,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ADSK. New Covenant Trust Company N.A. purchased a new stake in Autodesk during the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk in the first quarter valued at $26,000. Olistico Wealth LLC acquired a new stake in Autodesk in the second quarter valued at $26,000. Pacifica Partners Inc. boosted its stake in Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company's stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in Autodesk during the 3rd quarter worth $27,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Price Performance

Autodesk stock traded down $6.49 during trading hours on Thursday, hitting $306.65. 1,545,258 shares of the company traded hands, compared to its average volume of 1,576,211. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $315.73. The firm has a market cap of $65.93 billion, a P/E ratio of 64.04, a P/E/G ratio of 3.93 and a beta of 1.47. The firm's 50-day simple moving average is $279.25 and its two-hundred day simple moving average is $250.27. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.12 earnings per share. As a group, analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The shares were 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 of the company's stock, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,730 shares of company stock worth $5,064,430. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADSK shares. HSBC upgraded shares of Autodesk from a "hold" rating to a "buy" rating and upped their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their target price on Autodesk from $290.00 to $313.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Hsbc Global Res raised Autodesk to a "strong-buy" rating in a research report on Tuesday, September 3rd. Berenberg Bank lifted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a "hold" rating in a report on Friday, August 30th. Finally, Bank of America increased their target price on shares of Autodesk from $260.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $292.95.

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.