Stifel Financial Corp Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Stifel Financial Corp reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,841 shares of the software company's stock after selling 16,534 shares during the period. Stifel Financial Corp owned about 0.06% of Autodesk worth $33,014,000 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 ADSK. Jag Capital Management LLC purchased a new stake in Autodesk during the 3rd quarter worth about $13,861,000. LMR Partners LLP acquired a new stake in shares of Autodesk during the 3rd quarter worth about $12,643,000. Starboard Value LP purchased a new stake in Autodesk during the third quarter worth approximately $510,189,000. Erste Asset Management GmbH acquired a new position in Autodesk in the third quarter valued at approximately $20,087,000. Finally, Bank of Montreal Can increased its stake in Autodesk by 8.7% in the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company's stock valued at $248,385,000 after purchasing an additional 73,363 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Autodesk Stock Performance

Shares of ADSK stock traded up $2.54 during trading hours on Friday, reaching $307.71. 1,377,533 shares of the company's stock were exchanged, compared to its average volume of 1,673,155. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.64. The company's 50 day moving average is $293.16 and its two-hundred day moving average is $260.74. The company has a market cap of $66.16 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.43. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings data 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. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. Autodesk's revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADSK has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Autodesk from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. Citigroup upped their price objective on shares of Autodesk from $358.00 to $361.00 and gave the company a "buy" rating in a research note on Friday, November 29th. The Goldman Sachs Group raised Autodesk from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. DA Davidson initiated coverage on Autodesk in a report on Friday, September 27th. They issued a "neutral" rating and a $260.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Autodesk from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $316.68.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 286 shares of the firm's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,936 shares of company stock valued at $549,333. Corporate insiders own 0.14% of the company's stock.

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.