California Public Employees Retirement System Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

California Public Employees Retirement System trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 405,065 shares of the software company’s stock after selling 7,199 shares during the period. California Public Employees Retirement System’s holdings in Autodesk were worth $98,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADSK. Founders Financial Securities LLC acquired a new stake in shares of Autodesk in the 3rd quarter valued at approximately $206,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Autodesk by 61.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 179 shares of the software company’s stock worth $37,000 after purchasing an additional 68 shares in the last quarter. Alta Capital Management LLC lifted its stake in shares of Autodesk by 1.0% during the third quarter. Alta Capital Management LLC now owns 182,979 shares of the software company’s stock worth $37,860,000 after purchasing an additional 1,866 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Autodesk by 56.9% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 6,466 shares of the software company’s stock worth $1,338,000 after purchasing an additional 2,346 shares in the last quarter. Finally, Oak Thistle LLC lifted its stake in shares of Autodesk by 47.4% during the third quarter. Oak Thistle LLC now owns 4,377 shares of the software company’s stock worth $906,000 after purchasing an additional 1,408 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Up 0.4 %

Shares of Autodesk stock opened at $217.93 on Wednesday. The firm has a market cap of $46.62 billion, a P/E ratio of 51.76, a P/E/G ratio of 2.98 and a beta of 1.43. The business has a 50-day moving average price of $250.18 and a 200 day moving average price of $235.54. Autodesk, Inc. has a fifty-two week low of $188.38 and a fifty-two week high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TheStreet upgraded Autodesk from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. BMO Capital Markets boosted their price target on Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Piper Sandler boosted their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Oppenheimer boosted their price target on Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, StockNews.com upgraded Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.44.

Insiders Place Their Bets

In other news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rebecca Pearce sold 1,628 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the sale, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The disclosure for this sale can be found here. Insiders sold 36,166 shares of company stock worth $9,465,055 over the last ninety days. Company insiders own 0.14% of the company’s stock.

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.