ARK Investment Management LLC Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

ARK Investment Management LLC lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,264 shares of the software company’s stock after selling 4,027 shares during the period. ARK Investment Management LLC’s holdings in Autodesk were worth $4,205,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADSK. New Covenant Trust Company N.A. purchased a new position in Autodesk in the 1st quarter worth approximately $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the first quarter valued at $26,000. Livelsberger Financial Advisory acquired a new stake in Autodesk during the 3rd quarter valued at $27,000. Concord Wealth Partners purchased a new stake in Autodesk during the 3rd quarter worth $28,000. Finally, Olistico Wealth LLC acquired a new position in Autodesk in the 2nd quarter worth $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock worth $5,200,929 in the last three months. 0.14% of the stock is owned by company insiders.

Autodesk Stock Performance

ADSK stock opened at $305.56 on Friday. The stock’s fifty day moving average is $275.95 and its two-hundred day moving average is $248.05. The stock has a market capitalization of $65.70 billion, a price-to-earnings ratio of 62.49, a PEG ratio of 3.65 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $307.17.

Autodesk (NASDAQ:ADSK) last posted 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $1.12 EPS. Autodesk’s 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 year.

Wall Street Analyst Weigh In

ADSK has been the subject of several recent analyst reports. Bank of America lifted their target price on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Stifel Nicolaus lifted their price objective on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. BMO Capital Markets upped their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Piper Sandler raised their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Berenberg Bank upped their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Company 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.