GLOBALT Investments LLC GA Decreases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

GLOBALT Investments LLC GA lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,261 shares of the software company’s stock after selling 39 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Autodesk were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp boosted its stake in Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after purchasing an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. grew its position in Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADSK. Piper Sandler boosted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company initiated coverage on Autodesk in a research note on Wednesday, October 16th. They set an “overweight” rating and a $340.00 price target on the stock. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Bank of America upped their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada raised their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.19.

Autodesk Trading Up 1.0 %

Shares of ADSK stock opened at $302.05 on Tuesday. The stock has a 50 day simple moving average of $282.25 and a 200-day simple moving average of $252.44. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $315.73. The company has a market cap of $64.94 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 3.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $1.12 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In related 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 directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock valued at $5,232,213 over the last quarter. 0.14% of the stock is currently owned by 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.