Autodesk, Inc. (NASDAQ:ADSK) Stake Cut by Gofen & Glossberg LLC IL

Posted by Defense World Staff on Mar 24th, 2023

Gofen & Glossberg LLC IL reduced its holdings in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,119 shares of the software company’s stock after selling 266 shares during the period. Gofen & Glossberg LLC IL’s holdings in Autodesk were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADSK. Acadian Asset Management LLC lifted its stake in Autodesk by 351.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after acquiring an additional 2,820 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Autodesk by 71.7% in the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares in the last quarter. Cetera Investment Advisers lifted its stake in Autodesk by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after acquiring an additional 164 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Autodesk in the 1st quarter worth about $218,000. Finally, Dakota Wealth Management lifted its stake in Autodesk by 18.0% in the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after acquiring an additional 292 shares in the last quarter. 87.89% of the stock is owned by hedge funds and other institutional investors.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $201.14 on Friday. Autodesk, Inc. has a 1-year low of $163.20 and a 1-year high of $235.01. The firm has a market capitalization of $43.20 billion, a PE ratio of 53.21, a PEG ratio of 1.85 and a beta of 1.51. The business’s 50 day moving average is $209.05 and its 200-day moving average is $202.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.99.

Autodesk (NASDAQ:ADSK – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.05. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $0.98 EPS. Autodesk’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Autodesk, Inc. will post 4.49 earnings per share for the current year.

Wall Street Analyst Weigh In

ADSK has been the subject of several research analyst reports. Moffett Nathanson reduced their price objective on Autodesk to $177.00 in a research note on Thursday, November 24th. Piper Sandler raised their price target on Autodesk from $236.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price target on shares of Autodesk in a research note on Wednesday. Bank of America raised their price target on Autodesk from $225.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, Credit Suisse Group cut their price target on Autodesk from $325.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.40.

Insider Transactions at Autodesk

In other news, Director Betsy Rafael sold 309 shares of Autodesk stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $190.96, for a total transaction of $59,006.64. Following the sale, the director now owns 5,433 shares of the company’s stock, valued at approximately $1,037,485.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ayanna Howard sold 328 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $230.00, for a total transaction of $75,440.00. Following the completion of the transaction, the director now owns 3,862 shares in the company, valued at approximately $888,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Betsy Rafael sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $190.96, for a total value of $59,006.64. Following the transaction, the director now owns 5,433 shares of the company’s stock, valued at approximately $1,037,485.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,307 shares of company stock valued at $669,107. 0.11% of the stock is owned by corporate insiders.

Autodesk Profile

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Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.