Bryn Mawr Capital Management LLC Cuts Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Bryn Mawr Capital Management LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 20.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,300 shares of the software company’s stock after selling 846 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Autodesk were worth $803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADSK. Meritage Group LP purchased a new stake in Autodesk in the 3rd quarter worth $170,972,000. Los Angeles Capital Management LLC increased its holdings in Autodesk by 4,112.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 446,047 shares of the software company’s stock worth $92,292,000 after acquiring an additional 435,457 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Autodesk by 48.0% in the 4th quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock worth $321,910,000 after acquiring an additional 429,071 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in Autodesk by 24,236.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 410,075 shares of the software company’s stock worth $84,849,000 after acquiring an additional 408,390 shares in the last quarter. Finally, Matrix Capital Management Company LP increased its holdings in Autodesk by 247.9% in the 3rd quarter. Matrix Capital Management Company LP now owns 414,000 shares of the software company’s stock worth $85,661,000 after acquiring an additional 295,000 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 0.7 %

NASDAQ ADSK opened at $217.93 on Friday. The firm’s 50-day moving average is $247.53 and its two-hundred day moving average is $235.31. Autodesk, Inc. has a 12 month low of $188.38 and a 12 month high of $279.53. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a market capitalization of $46.62 billion, a P/E ratio of 51.76, a PEG ratio of 2.97 and a beta of 1.43.

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

Insiders Place Their Bets

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. Insiders have sold 36,166 shares of company stock worth $9,465,055 over the last three months. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

ADSK has been the subject of a number of research reports. Piper Sandler Companies upped their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Piper Sandler upped their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of Autodesk in a report on Monday, April 1st. Rosenblatt Securities upped their target price on shares of Autodesk from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Barclays upped their target price on shares of Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $272.44.

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.