Canandaigua National Bank & Trust Co. cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) 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.
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.
Read Our Latest Analysis on Autodesk
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.
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