Van ECK Associates Corp Sells 9,754 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Van ECK Associates Corp lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,757 shares of the software company’s stock after selling 9,754 shares during the period. Van ECK Associates Corp’s holdings in Autodesk were worth $15,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its holdings in Autodesk by 86.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock worth $1,959,000 after purchasing an additional 4,381 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Autodesk in the 3rd quarter worth approximately $330,000. abrdn plc increased its position in Autodesk by 26.2% during the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after buying an additional 95,723 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Autodesk during the 4th quarter valued at approximately $7,280,000. Finally, International Assets Investment Management LLC raised its stake in Autodesk by 3,539.1% during the fourth quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock valued at $55,370,000 after buying an additional 221,161 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rebecca Pearce sold 1,628 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the transaction, the executive vice president now owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. Insiders have sold a total of 36,166 shares of company stock worth $9,465,055 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ADSK. Berenberg Bank downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 target price for the company. in a research report on Wednesday. Rosenblatt Securities upped their price objective on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Citigroup upped their price target on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Barclays upped their target price on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, StockNews.com downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $274.67.

Autodesk Stock Down 1.0 %

NASDAQ ADSK opened at $210.71 on Thursday. Autodesk, Inc. has a 12 month low of $189.54 and a 12 month high of $279.53. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The stock has a market cap of $45.40 billion, a PE ratio of 50.05, a P/E/G ratio of 2.98 and a beta of 1.43. The stock’s 50 day moving average is $245.02 and its 200 day moving average is $235.51.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts predict that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

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.