Simmons Bank Reduces Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Simmons Bank lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,515 shares of the software company’s stock after selling 145 shares during the period. Simmons Bank’s holdings in Autodesk were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ADSK. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk in the 1st quarter valued at about $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk in the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in shares of Autodesk during the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Autodesk in the 4th quarter valued at $25,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk in the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

ADSK traded down $2.37 on Wednesday, hitting $254.62. 1,208,694 shares of the company were exchanged, compared to its average volume of 1,639,651. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $54.87 billion, a P/E ratio of 55.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The business’s fifty day moving average is $244.89 and its 200 day moving average is $239.23.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADSK. Oppenheimer reissued an “outperform” rating and set a $275.00 price objective on shares of Autodesk in a research report on Tuesday, June 18th. Mizuho dropped their price target on Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Robert W. Baird decreased their price objective on Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Rosenblatt Securities restated a “buy” rating and set a $290.00 price target on shares of Autodesk in a research note on Wednesday, June 12th. Finally, Barclays lowered their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $268.17.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold 39,931 shares of company stock worth $9,537,781 in the last three months. Corporate insiders own 0.14% of the company’s stock.

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.