Harvey Capital Management Inc. Sells 3,441 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Harvey Capital Management Inc. cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 15.8% in the fourth quarter, HoldingsChannel reports. The firm owned 18,343 shares of the software company’s stock after selling 3,441 shares during the period. Autodesk comprises about 1.3% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 24th largest holding. Harvey Capital Management Inc.’s holdings in Autodesk were worth $5,422,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the period. FMR LLC grew its stake in Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Autodesk by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after buying an additional 61,785 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the last quarter. Finally, Starboard Value LP bought a new stake in shares of Autodesk in the 3rd quarter valued at about $510,189,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. BMO Capital Markets raised their price objective on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th. Rosenblatt Securities raised their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $333.77.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $299.72 on Wednesday. The company has a market capitalization of $64.44 billion, a PE ratio of 59.47, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company’s fifty day moving average price is $299.71 and its 200 day moving average price is $282.64. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company posted $1.33 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current 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.