Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lessened its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 44.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,637 shares of the software company’s stock after selling 20,630 shares during the period. Sawgrass Asset Management LLC’s holdings in Autodesk were worth $7,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall Financial Group LLC boosted its position in Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after buying an additional 35 shares during the period. Mount Yale Investment Advisors LLC boosted its position in Autodesk by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock valued at $551,000 after buying an additional 35 shares during the period. Y.D. More Investments Ltd raised its stake in Autodesk by 1.0% during the 4th quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after acquiring an additional 35 shares in the last quarter. Grove Bank & Trust raised its stake in Autodesk by 9.2% during the 4th quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after acquiring an additional 37 shares in the last quarter. Finally, Journey Strategic Wealth LLC raised its stake in Autodesk by 4.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Down 0.8 %

ADSK stock opened at $297.28 on Thursday. The company has a market cap of $63.92 billion, a P/E ratio of 58.98, a P/E/G ratio of 3.17 and a beta of 1.43. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company’s 50-day moving average price is $299.71 and its 200 day moving average price is $282.64. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. On average, research analysts expect that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADSK. Robert W. Baird lifted their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. BMO Capital Markets lifted their price target on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research note on Friday, November 29th. Finally, UBS Group assumed coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

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.