Kestra Private Wealth Services LLC Sells 2,177 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Posted by Defense World Staff on Apr 21st, 2023

Kestra Private Wealth Services LLC lowered its position in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 62.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,308 shares of the software company’s stock after selling 2,177 shares during the period. Kestra Private Wealth Services LLC’s holdings in Autodesk were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ADSK. Lone Pine Capital LLC purchased a new position in shares of Autodesk during the third quarter worth approximately $414,972,000. Baillie Gifford & Co. purchased a new position in shares of Autodesk during the fourth quarter worth approximately $173,259,000. Lazard Asset Management LLC increased its position in shares of Autodesk by 64.4% during the first quarter. Lazard Asset Management LLC now owns 579,794 shares of the software company’s stock worth $124,277,000 after acquiring an additional 227,098 shares during the period. Vanguard Group Inc. increased its position in shares of Autodesk by 1.2% during the third quarter. Vanguard Group Inc. now owns 18,179,584 shares of the software company’s stock worth $3,395,946,000 after acquiring an additional 208,141 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Autodesk by 21.0% during the second quarter. Macquarie Group Ltd. now owns 1,183,689 shares of the software company’s stock worth $203,547,000 after acquiring an additional 205,595 shares during the period. Institutional investors own 87.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADSK. Piper Sandler lifted their price objective on shares of Autodesk from $236.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 24th. William Blair began coverage on shares of Autodesk in a report on Monday. They set an “outperform” rating on the stock. Rosenblatt Securities reissued a “buy” rating and set a $235.00 price objective on shares of Autodesk in a report on Thursday. Mizuho lifted their price objective on shares of Autodesk from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Finally, Bank of America lifted their price objective on shares of Autodesk from $225.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $232.40.

Insider Activity at Autodesk

In related news, Director Ayanna Howard sold 328 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were 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 directly owns 3,862 shares in the company, valued at $888,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ayanna Howard sold 328 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were 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 directly owns 3,862 shares in the company, valued at $888,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Betsy Rafael sold 309 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $205.09, for a total transaction of $63,372.81. Following the completion of the transaction, the director now owns 4,506 shares of the company’s stock, valued at approximately $924,135.54. The disclosure for this sale can be found here. Insiders sold 11,690 shares of company stock worth $2,328,852 over the last three months. Company insiders own 0.11% of the company’s stock.

Autodesk Trading Down 1.0 %

NASDAQ:ADSK opened at $194.64 on Friday. Autodesk, Inc. has a 12 month low of $163.20 and a 12 month high of $235.01. The firm has a fifty day simple moving average of $203.98 and a 200-day simple moving average of $202.57. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $41.80 billion, a P/E ratio of 51.49, a PEG ratio of 1.83 and a beta of 1.53.

Autodesk (NASDAQ:ADSK – Get Rating) last posted its earnings results on Thursday, February 23rd. The software company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Autodesk had a net margin of 16.44% and a return on equity of 105.43%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts anticipate that Autodesk, Inc. will post 4.52 earnings per share for the current 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.