Strs Ohio Trims Stake in Autodesk, Inc. (NASDAQ:ADSK)

Posted by on Apr 9th, 2023

Strs Ohio cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,624 shares of the software company’s stock after selling 2,497 shares during the period. Strs Ohio’s holdings in Autodesk were worth $12,263,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. TD Capital Management LLC purchased a new position in shares of Autodesk during the third quarter valued at approximately $30,000. First Manhattan Co. boosted its holdings in Autodesk by 342.9% during the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock valued at $33,000 after acquiring an additional 120 shares during the period. Riverview Trust Co grew its position in Autodesk by 189.2% in the 3rd quarter. Riverview Trust Co now owns 188 shares of the software company’s stock valued at $35,000 after acquiring an additional 123 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Autodesk in the first quarter worth $36,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Autodesk by 346.9% during the second quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after purchasing an additional 170 shares during the last quarter. 87.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $235.00 price target on shares of Autodesk in a report on Wednesday, March 22nd. Berenberg Bank began coverage on shares of Autodesk in a research report on Wednesday, January 11th. They set a “buy” rating and a $230.00 target price on the stock. Robert W. Baird lowered their price target on Autodesk from $255.00 to $247.00 in a report on Friday, February 24th. Piper Sandler lifted their target price on Autodesk from $236.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. Finally, StockNews.com began coverage on Autodesk in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Two 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.40.

Insider Transactions at Autodesk

In related news, CEO Andrew Anagnost sold 2,847 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 85,452 shares of the company’s stock, valued at approximately $16,812,681. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew Anagnost sold 2,847 shares of the business’s stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $196.75, for a total transaction of $560,147.25. Following the sale, the chief executive officer now directly owns 85,452 shares of the company’s stock, valued at $16,812,681. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Deborah Clifford sold 3,815 shares of the firm’s 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 transaction, the chief financial officer now owns 18,209 shares of the company’s stock, valued at approximately $3,582,620.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,084 shares of company stock worth $2,405,942. Insiders own 0.11% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $197.34 on Friday. The company has a 50 day moving average of $208.39 and a two-hundred day moving average of $202.15. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.99. Autodesk, Inc. has a twelve month low of $163.20 and a twelve month high of $235.01. The company has a market cap 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 posted its quarterly earnings data on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.05. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts predict 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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