Seneca House Advisors cut its position in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,886 shares of the software company’s stock after selling 544 shares during the quarter. Autodesk accounts for 1.8% of Seneca House Advisors’ holdings, making the stock its 22nd largest holding. Seneca House Advisors’ holdings in Autodesk were worth $3,515,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Autodesk in the fourth quarter valued at $426,374,000. Lone Pine Capital LLC purchased a new position in Autodesk in the third quarter valued at $414,972,000. Baillie Gifford & Co. purchased a new position in Autodesk in the fourth quarter valued at $173,259,000. Select Equity Group L.P. boosted its holdings in Autodesk by 156.0% in the fourth quarter. Select Equity Group L.P. now owns 587,690 shares of the software company’s stock valued at $109,822,000 after purchasing an additional 358,113 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Autodesk by 47.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,032,500 shares of the software company’s stock valued at $192,943,000 after purchasing an additional 332,200 shares during the period. 86.93% of the stock is owned by institutional investors and hedge funds.
Autodesk Price Performance
ADSK stock traded down $3.26 on Tuesday, reaching $210.24. The company had a trading volume of 469,840 shares, compared to its average volume of 1,418,652. Autodesk, Inc. has a 1 year low of $165.01 and a 1 year high of $235.01. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.72 and a current ratio of 0.72. The company’s fifty day moving average is $199.06 and its 200 day moving average is $201.21. The company has a market cap of $44.93 billion, a P/E ratio of 55.31, a PEG ratio of 1.94 and a beta of 1.53.
Autodesk (NASDAQ:ADSK – Get Rating) last posted its earnings results on Thursday, May 25th. The software company reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Autodesk had a return on equity of 100.54% and a net margin of 16.42%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company earned $0.87 EPS. Autodesk’s revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Autodesk, Inc. will post 4.54 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Andrew Anagnost sold 2,847 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $196.75, for a total transaction of $560,147.25. Following the completion of the sale, the chief executive officer now directly owns 85,452 shares in the company, valued at approximately $16,812,681. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Deborah Clifford sold 3,815 shares of the stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $196.75, for a total value of $750,601.25. Following the completion of the sale, the chief financial officer now directly owns 18,209 shares in the company, valued at approximately $3,582,620.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 2,847 shares of the stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $196.75, for a total value of $560,147.25. Following the completion of the sale, the chief executive officer now owns 85,452 shares of the company’s stock, valued at $16,812,681. The disclosure for this sale can be found here. Insiders have sold a total of 9,805 shares of company stock valued at $1,931,672 in the last quarter. 0.14% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
ADSK has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on Autodesk in a report on Wednesday, May 24th. They set a “market perform” rating and a $224.00 price target for the company. Piper Sandler lifted their price target on Autodesk from $236.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. William Blair assumed coverage on Autodesk in a report on Monday, April 17th. They issued an “outperform” rating for the company. StockNews.com assumed coverage on Autodesk in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Argus reduced their target price on Autodesk from $290.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.84.
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.