Northwest & Ethical Investments L.P. Sells 22,762 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,894 shares of the software company’s stock after selling 22,762 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Autodesk were worth $23,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADSK. B. Riley Wealth Advisors Inc. lifted its stake in shares of Autodesk by 7.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,783 shares of the software company’s stock valued at $1,766,000 after buying an additional 448 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Autodesk during the first quarter valued at $25,000. Citizens Financial Group Inc. RI bought a new stake in Autodesk in the 1st quarter valued at $251,000. LRI Investments LLC purchased a new stake in Autodesk in the 1st quarter worth $26,000. Finally, Swedbank AB bought a new position in shares of Autodesk during the 1st quarter valued at about $39,054,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ADSK. Rosenblatt Securities increased their price target on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Berenberg Bank raised their target price on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Robert W. Baird lifted their price objective on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Scotiabank initiated coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.38.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This represents a 50.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 over the last three months. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK traded down $27.32 during mid-day trading on Thursday, reaching $290.64. 3,440,833 shares of the stock were exchanged, compared to its average volume of 1,594,737. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62. 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 business’s 50 day moving average is $289.02 and its 200-day moving average is $256.83. The company has a market capitalization of $62.49 billion, a P/E ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 EPS. On average, equities research analysts forecast that Autodesk, Inc. will post 5.73 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.