IMPACTfolio LLC Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

IMPACTfolio LLC decreased its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 732 shares of the software company’s stock after selling 36 shares during the quarter. IMPACTfolio LLC’s holdings in Autodesk were worth $216,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADSK. Trust Co of the South purchased a new stake in Autodesk during the 4th quarter worth $323,000. Franklin Resources Inc. increased its position in shares of Autodesk by 36.5% during the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after acquiring an additional 387,309 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Autodesk by 3.4% in the third quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock worth $3,522,000 after acquiring an additional 421 shares in the last quarter. Tidal Investments LLC grew its stake in Autodesk by 245.4% during the 3rd quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock valued at $21,214,000 after purchasing an additional 54,712 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Autodesk during the 3rd quarter worth approximately $4,751,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK traded down $2.05 during trading hours on Thursday, reaching $293.52. 622,001 shares of the company’s stock traded hands, compared to its average volume of 1,579,051. The firm has a market capitalization of $63.11 billion, a price-to-earnings ratio of 58.24, a P/E/G ratio of 3.62 and a beta of 1.43. The business’s fifty day simple moving average is $300.59 and its two-hundred day simple moving average is $271.61. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted $1.33 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on ADSK shares. Rosenblatt Securities upped their price target on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird increased their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Oppenheimer lifted their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, UBS Group initiated coverage on Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.95.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred 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 of the company’s stock, valued at $8,787,262.69. The trade was a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

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.