Autodesk, Inc. (NASDAQ:ADSK) Stake Lessened by Meritage Group LP

Meritage Group LP lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,307,797 shares of the software company’s stock after selling 110,626 shares during the period. Autodesk accounts for approximately 8.4% of Meritage Group LP’s holdings, making the stock its 2nd biggest position. Meritage Group LP owned 0.61% of Autodesk worth $360,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Livelsberger Financial Advisory bought a new position in Autodesk in the 3rd quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in Autodesk during the 3rd quarter worth about $28,000. Concord Wealth Partners purchased a new position in Autodesk in the 3rd quarter valued at about $28,000. Stephens Consulting LLC purchased a new position in Autodesk in the 2nd quarter worth approximately $32,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Autodesk by 94.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 136 shares of the software company’s stock worth $34,000 after acquiring an additional 66 shares during the period. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK opened at $307.71 on Monday. The stock has a market capitalization of $66.16 billion, a PE ratio of 61.05, a PEG ratio of 3.59 and a beta of 1.43. The stock has a 50-day simple moving average of $293.16 and a 200-day simple moving average of $261.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

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

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock valued at $549,333 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADSK. Wells Fargo & Company increased their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Mizuho upped their price target on shares of Autodesk from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Morgan Stanley upped their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research report on Friday, November 29th. Finally, Robert W. Baird lifted their target price on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $316.68.

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.