Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by State of Michigan Retirement System

Posted by on Apr 9th, 2023

State of Michigan Retirement System cut its stake in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,423 shares of the software company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Autodesk were worth $11,104,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ADSK. Slow Capital Inc. raised its stake in Autodesk by 0.4% during the third quarter. Slow Capital Inc. now owns 14,021 shares of the software company’s stock worth $2,619,000 after purchasing an additional 50 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Autodesk by 8.7% in the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company’s stock valued at $136,000 after purchasing an additional 51 shares during the last quarter. Grove Bank & Trust boosted its stake in Autodesk by 1.0% during the third quarter. Grove Bank & Trust now owns 5,504 shares of the software company’s stock worth $1,028,000 after buying an additional 57 shares during the period. Cohen Investment Advisors LLC raised its stake in shares of Autodesk by 0.6% in the 3rd quarter. Cohen Investment Advisors LLC now owns 9,279 shares of the software company’s stock valued at $1,734,000 after acquiring an additional 58 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in shares of Autodesk by 3.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,733 shares of the software company’s stock valued at $324,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 87.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Autodesk from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, February 17th. Mizuho increased their target price on shares of Autodesk from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Credit Suisse Group decreased their price target on shares of Autodesk from $325.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Robert W. Baird cut their price objective on Autodesk from $255.00 to $247.00 in a research report on Friday, February 24th. Finally, Piper Sandler lifted their target price on Autodesk from $236.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.40.

Insiders Place Their Bets

In related news, Director Betsy Rafael sold 309 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $205.09, for a total transaction of $63,372.81. Following the completion of the sale, the director now owns 4,506 shares in the company, valued at approximately $924,135.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Betsy Rafael sold 309 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were 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 in the company, valued at $924,135.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 394 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $195.66, for a total value of $77,090.04. Following the transaction, the chief accounting officer now owns 3,074 shares in the company, valued at approximately $601,458.84. The disclosure for this sale can be found here. Insiders have sold a total of 12,084 shares of company stock valued at $2,405,942 over the last quarter. Company insiders own 0.11% of the company’s stock.

Autodesk Trading Down 0.1 %

NASDAQ ADSK opened at $197.34 on Friday. The firm’s fifty day moving average price is $208.39 and its 200 day moving average price is $202.15. Autodesk, Inc. has a 12 month low of $163.20 and a 12 month high of $235.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 52.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53.

Autodesk (NASDAQ:ADSK – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.05. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Autodesk’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that Autodesk, Inc. will post 4.49 earnings per share for the current fiscal year.

Autodesk Company 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.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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