Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,261 shares of the software company’s stock after selling 39 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Autodesk were worth $2,276,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ADSK. Jag Capital Management LLC purchased a new position in shares of Autodesk during the 3rd quarter worth $13,861,000. Cetera Investment Advisers boosted its stake in Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after buying an additional 38,196 shares during the period. Forsta AP Fonden increased its position in shares of Autodesk by 7.9% during the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after acquiring an additional 3,800 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Autodesk by 32.0% in the 3rd quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after acquiring an additional 3,259 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in shares of Autodesk by 8.2% in the 2nd quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after acquiring an additional 49,500 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADSK shares. Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Berenberg Bank lifted their price objective on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Scotiabank initiated coverage on Autodesk in a research report on Monday. They issued a “sector outperform” rating and a $360.00 target price for the company. Finally, Robert W. Baird increased their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.19.

Autodesk Price Performance

ADSK stock opened at $302.05 on Tuesday. The business has a 50 day moving average price of $282.25 and a 200 day moving average price of $252.44. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 3.82 and a beta of 1.47. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $315.73.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. Equities research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

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.