Wrapmanager Inc. Trims Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Wrapmanager Inc. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,976 shares of the software company’s stock after selling 507 shares during the period. Wrapmanager Inc.’s holdings in Autodesk were worth $820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new stake in Autodesk during the first quarter worth about $25,000. LRI Investments LLC purchased a new stake in Autodesk during the first quarter worth about $26,000. Olistico Wealth LLC purchased a new stake in Autodesk during the second quarter worth about $26,000. Pacifica Partners Inc. increased its stake in Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Finally, Livelsberger Financial Advisory purchased a new stake in Autodesk during the third quarter worth about $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

Autodesk stock opened at $302.05 on Tuesday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $315.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50 day simple moving average of $282.25 and a 200-day simple moving average of $252.44. The stock has a market capitalization of $64.94 billion, a PE ratio of 61.77, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. DA Davidson assumed 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. KeyCorp reiterated an “overweight” rating and set a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. Stifel Nicolaus boosted their price objective on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. Rosenblatt Securities boosted their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $301.19.

Insiders Place Their Bets

In other Autodesk news, 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 value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 17,344 shares of the 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 completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is owned by corporate insiders.

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.