Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 75.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,719 shares of the software company’s stock after selling 38,873 shares during the quarter. Intech Investment Management LLC’s holdings in Autodesk were worth $3,504,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. King Luther Capital Management Corp purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $204,000. Grandfield & Dodd LLC lifted its position in Autodesk by 1.0% in the third quarter. Grandfield & Dodd LLC now owns 142,808 shares of the software company’s stock valued at $39,341,000 after acquiring an additional 1,473 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Autodesk by 15.5% in the third quarter. First Horizon Advisors Inc. now owns 826 shares of the software company’s stock valued at $228,000 after acquiring an additional 111 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Autodesk by 10.3% in the third quarter. Advisors Asset Management Inc. now owns 14,418 shares of the software company’s stock valued at $3,972,000 after acquiring an additional 1,347 shares in the last quarter. Finally, NS Partners Ltd grew its holdings in shares of Autodesk by 1.9% during the third quarter. NS Partners Ltd now owns 68,186 shares of the software company’s stock worth $18,784,000 after purchasing an additional 1,265 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,232,213 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADSK. Berenberg Bank boosted their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Mizuho set a $260.00 price objective on Autodesk in a report on Friday, October 18th. Rosenblatt Securities raised their target price on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and upped their price target for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Stock Performance

Shares of ADSK stock opened at $321.27 on Friday. The stock has a fifty day moving average price of $286.44 and a 200 day moving average price of $254.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $69.07 billion, a PE ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $321.90.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 EPS. Sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

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.