Vestcor Inc Decreases Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Vestcor Inc lessened its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 23.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,662 shares of the software company’s stock after selling 1,988 shares during the period. Vestcor Inc’s holdings in Autodesk were worth $1,835,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Livelsberger Financial Advisory purchased a new position in Autodesk in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in shares of Autodesk during the third quarter worth about $28,000. Concord Wealth Partners acquired a new position in Autodesk during the 3rd quarter worth approximately $28,000. Stephens Consulting LLC purchased a new position in Autodesk in the second quarter worth $32,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of Autodesk by 94.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 136 shares of the software company’s stock valued at $34,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 1.1 %

ADSK opened at $307.46 on Thursday. The firm’s 50 day moving average is $294.55 and its 200-day moving average is $262.32. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $66.10 billion, a P/E ratio of 61.00, a P/E/G ratio of 3.63 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results 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. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % 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 worth $549,333. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADSK. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. KeyCorp increased their target price on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Mizuho upped their price objective on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $320.33.

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.