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

Intech Investment Management LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 86.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,832 shares of the software company’s stock after selling 71,641 shares during the quarter. Intech Investment Management LLC’s holdings in Autodesk were worth $2,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Concord Wealth Partners purchased a new stake in shares of Autodesk in the first quarter valued at $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in Autodesk during the fourth quarter worth about $25,000. Bfsg LLC purchased a new position in Autodesk during the fourth quarter worth about $27,000. Eagle Bay Advisors LLC lifted its position in Autodesk by 217.1% during the first quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock worth $29,000 after buying an additional 76 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in Autodesk during the fourth quarter worth about $28,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the sale, the director now owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,381 shares of company stock valued at $9,401,282. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird reduced their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. BMO Capital Markets cut their price objective on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Citigroup raised their price objective on Autodesk from $286.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Stifel Nicolaus lowered their target price on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, KeyCorp lowered their target price on Autodesk from $320.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $262.42.

Autodesk Stock Performance

Shares of ADSK traded down $0.36 during mid-day trading on Friday, hitting $242.45. The stock had a trading volume of 1,120,472 shares, compared to its average volume of 1,644,164. The company has a market cap of $52.25 billion, a PE ratio of 52.48, a PEG ratio of 3.24 and a beta of 1.48. The company’s fifty day simple moving average is $230.85 and its two-hundred day simple moving average is $239.80. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. On average, equities analysts expect that Autodesk, Inc. will post 5.55 earnings per share for the current year.

Autodesk Profile

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.