DnB Asset Management AS lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,081 shares of the software company’s stock after selling 22,400 shares during the quarter. DnB Asset Management AS owned approximately 0.07% of Autodesk worth $32,490,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Glassman Wealth Services grew its position in shares of Autodesk by 16.8% during the fourth quarter. Glassman Wealth Services now owns 326 shares of the software company’s stock worth $61,000 after buying an additional 47 shares in the last quarter. Boston Financial Mangement LLC lifted its stake in Autodesk by 1.4% during the fourth quarter. Boston Financial Mangement LLC now owns 3,666 shares of the software company’s stock worth $685,000 after purchasing an additional 50 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in Autodesk by 8.7% during the first quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock worth $136,000 after purchasing an additional 51 shares during the last quarter. Mission Wealth Management LP lifted its stake in Autodesk by 0.8% during the first quarter. Mission Wealth Management LP now owns 6,570 shares of the software company’s stock worth $1,368,000 after purchasing an additional 53 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its stake in Autodesk by 3.2% during the fourth quarter. Integrated Advisors Network LLC now owns 1,788 shares of the software company’s stock worth $334,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 86.93% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $235.00 price objective on shares of Autodesk in a research note on Thursday, April 20th. BMO Capital Markets assumed coverage on Autodesk in a research note on Wednesday, May 24th. They set a “market perform” rating and a $224.00 price objective on the stock. William Blair assumed coverage on Autodesk in a research note on Monday, April 17th. They set an “outperform” rating on the stock. Stifel Nicolaus reduced their price objective on Autodesk from $245.00 to $240.00 in a research note on Friday, May 19th. Finally, OTR Global cut Autodesk to a “positive” rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.84.
Insider Buying and Selling
In related news, Director Betsy Rafael sold 309 shares of Autodesk stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $205.09, for a total transaction of $63,372.81. Following the transaction, the director now directly owns 4,506 shares of the company’s stock, valued at $924,135.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 686 shares of company stock valued at $137,509 over the last three months. Company insiders own 0.14% of the company’s stock.
Autodesk Price Performance
Shares of NASDAQ ADSK opened at $204.61 on Friday. The firm’s 50-day simple moving average is $200.89 and its 200 day simple moving average is $201.70. The stock has a market cap of $43.73 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.87 and a beta of 1.53. Autodesk, Inc. has a fifty-two week low of $166.94 and a fifty-two week high of $235.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.54.
Autodesk (NASDAQ:ADSK – Free Report) last released its earnings results on Thursday, May 25th. The software company reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Autodesk had a return on equity of 100.54% and a net margin of 16.42%. Autodesk’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. Equities analysts expect that Autodesk, Inc. will post 4.54 EPS for the current year.
Autodesk Company 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.