Canandaigua National Bank & Trust Co. Has $1.05 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Canandaigua National Bank & Trust Co. cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 50.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,236 shares of the software company’s stock after selling 4,265 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Autodesk were worth $1,048,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk during the fourth quarter worth $25,000. Concord Wealth Partners acquired a new stake in Autodesk during the 1st quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the 1st quarter worth $25,000. LRI Investments LLC bought a new position in Autodesk during the first quarter worth about $26,000. Finally, Olistico Wealth LLC acquired a new position in Autodesk in the second quarter valued at about $26,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

ADSK stock traded up $1.27 during trading hours on Friday, reaching $240.56. The stock had a trading volume of 529,318 shares, compared to its average volume of 1,689,618. The stock has a 50-day simple moving average of $237.50 and a 200 day simple moving average of $239.95. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The stock has a market capitalization of $51.84 billion, a PE ratio of 51.79, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69.

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

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of Autodesk 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 directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,381 shares of company stock valued at $9,401,282. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADSK shares. Robert W. Baird dropped their price target on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Citigroup boosted their price objective on shares of Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. StockNews.com lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Rosenblatt Securities reissued a “buy” rating and issued a $290.00 price target on shares of Autodesk in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Autodesk in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $262.42.

Autodesk Company 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.