Capital Research Global Investors Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Capital Research Global Investors cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSKGet Rating) by 45.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,116,666 shares of the software company’s stock after selling 2,582,164 shares during the quarter. Capital Research Global Investors owned approximately 1.43% of Autodesk worth $668,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaCrest Capital Management LLC boosted its position in Autodesk by 35.4% during the 4th quarter. AlphaCrest Capital Management LLC now owns 2,224 shares of the software company’s stock valued at $625,000 after purchasing an additional 581 shares during the period. Covestor Ltd acquired a new position in Autodesk during the 4th quarter valued at approximately $83,000. Nwam LLC boosted its position in Autodesk by 6.6% during the 4th quarter. Nwam LLC now owns 1,241 shares of the software company’s stock valued at $349,000 after purchasing an additional 77 shares during the period. Bigelow Investment Advisors LLC acquired a new position in Autodesk during the 4th quarter valued at approximately $257,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Autodesk by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,844 shares of the software company’s stock valued at $296,612,000 after acquiring an additional 24,273 shares in the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 0.1 %

NASDAQ:ADSK opened at $208.52 on Thursday. The firm has a market capitalization of $45.01 billion, a price-to-earnings ratio of 82.42, a PEG ratio of 2.61 and a beta of 1.53. Autodesk, Inc. has a 1-year low of $163.20 and a 1-year high of $335.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08. The business’s fifty day moving average price is $205.61 and its 200 day moving average price is $199.46.

Autodesk (NASDAQ:ADSKGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The software company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.08. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Autodesk had a return on equity of 88.57% and a net margin of 11.76%. Autodesk’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, sell-side analysts forecast that Autodesk, Inc. will post 4.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADSK. Deutsche Bank Aktiengesellschaft lifted their target price on Autodesk from $225.00 to $255.00 in a research note on Thursday, August 25th. Piper Sandler cut their target price on Autodesk from $298.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, May 27th. Citigroup lifted their target price on Autodesk from $258.00 to $277.00 in a research note on Thursday, August 25th. The Goldman Sachs Group cut their target price on Autodesk from $210.00 to $185.00 and set a “sell” rating on the stock in a research note on Tuesday, May 31st. Finally, Oppenheimer boosted their price objective on Autodesk from $230.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $266.20.

Insider Activity at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now directly owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Autodesk news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now directly owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 327 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $177.43, for a total value of $58,019.61. Following the completion of the transaction, the chief accounting officer now directly owns 4,186 shares in the company, valued at $742,721.98. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Autodesk Company Profile

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.

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Institutional Ownership by Quarter for Autodesk (NASDAQ:ADSK)

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