Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 75.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,719 shares of the software company’s stock after selling 38,873 shares during the quarter. Intech Investment Management LLC’s holdings in Autodesk were worth $3,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ninety One UK Ltd raised its stake in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Autodesk by 366.5% in the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after buying an additional 662,339 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after buying an additional 566,826 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Autodesk by 818.3% in the second quarter. Marshall Wace LLP now owns 458,337 shares of the software company’s stock worth $113,415,000 after buying an additional 408,424 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADSK shares. Citigroup increased their price objective on shares of Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus increased their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 15th. Piper Sandler boosted their price objective on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Robert W. Baird raised their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $309.43.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the sale, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,280 shares of company stock worth $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $321.27 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $69.07 billion, a P/E ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47. The stock has a 50-day moving average of $286.44 and a two-hundred day moving average of $254.89. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $321.90.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. As a group, analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.