Oppenheimer & Co. Inc. Sells 142 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Posted by Defense World Staff on May 12th, 2023

Oppenheimer & Co. Inc. reduced its stake in Autodesk, Inc. (NASDAQ:ADSK – Get Rating) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,291 shares of the software company’s stock after selling 142 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Autodesk were worth $989,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dakota Wealth Management increased its stake in shares of Autodesk by 7.3% during the fourth quarter. Dakota Wealth Management now owns 4,372 shares of the software company’s stock worth $817,000 after purchasing an additional 297 shares during the period. Lincoln National Corp increased its position in Autodesk by 96.8% during the 4th quarter. Lincoln National Corp now owns 2,367 shares of the software company’s stock worth $442,000 after buying an additional 1,164 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Autodesk by 36.9% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 1,084 shares of the software company’s stock worth $203,000 after buying an additional 292 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Autodesk by 6.2% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,482 shares of the software company’s stock valued at $277,000 after acquiring an additional 87 shares in the last quarter. Finally, Knowledge Leaders Capital LLC acquired a new position in shares of Autodesk in the fourth quarter valued at about $485,000. 87.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADSK. Rosenblatt Securities reissued a “buy” rating and issued a $235.00 price objective on shares of Autodesk in a report on Thursday, April 20th. Argus reduced their price target on Autodesk from $290.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, March 1st. KeyCorp lifted their price objective on Autodesk from $237.00 to $244.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Royal Bank of Canada increased their target price on Autodesk from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Finally, Stifel Nicolaus boosted their price target on Autodesk from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.40.

Insider Transactions at Autodesk

In other news, Director Betsy Rafael sold 309 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $199.48, for a total transaction of $61,639.32. Following the completion of the sale, the director now directly owns 4,815 shares in the company, valued at $960,496.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Autodesk news, CAO Stephen W. Hope sold 2,457 shares of the business’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $196.75, for a total value of $483,414.75. Following the transaction, the chief accounting officer now directly owns 1,554 shares of the company’s stock, valued at $305,749.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Betsy Rafael sold 309 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $199.48, for a total value of $61,639.32. Following the transaction, the director now owns 4,815 shares in the company, valued at $960,496.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,671 shares of company stock worth $2,313,602. Company insiders own 0.11% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $193.10 on Friday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.84 and a current ratio of 0.84. Autodesk, Inc. has a 52 week low of $163.20 and a 52 week high of $235.01. The firm has a market cap of $41.47 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 1.77 and a beta of 1.53. The firm’s fifty day moving average is $197.87 and its 200-day moving average is $202.20.

Autodesk (NASDAQ:ADSK – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The software company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Autodesk had a return on equity of 105.43% and a net margin of 16.44%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Sell-side analysts predict that Autodesk, Inc. will post 4.57 earnings per share for the current year.

Autodesk Company Profile

(Get Rating)

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.