Arkadios Wealth Advisors Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Arkadios Wealth Advisors reduced its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,480 shares of the software company’s stock after selling 397 shares during the quarter. Arkadios Wealth Advisors’ holdings in Autodesk were worth $614,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Manchester Capital Management LLC increased its holdings in Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock valued at $378,000 after buying an additional 169 shares during the last quarter. TD Asset Management Inc boosted its holdings in Autodesk by 153.0% in the fourth quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock worth $93,589,000 after purchasing an additional 232,441 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Autodesk by 58.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after purchasing an additional 6,481 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Autodesk by 12.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock worth $17,991,000 after purchasing an additional 8,456 shares during the period. Finally, Meyer Handelman Co. bought a new position in shares of Autodesk in the 1st quarter worth about $903,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The transaction 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 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 transaction of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,931 shares of company stock worth $9,537,781. 0.14% of the stock is owned by corporate insiders.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $3.61 during mid-day trading on Thursday, reaching $258.23. 2,218,480 shares of the company traded hands, compared to its average volume of 1,643,190. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The firm has a market cap of $55.65 billion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 3.23 and a beta of 1.48. The stock has a fifty day simple moving average of $245.35 and a 200-day simple moving average of $239.27. 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 quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Autodesk in a research report on Friday, August 23rd. They set an “overweight” rating and a $305.00 price objective for the company. Citigroup increased their price target on Autodesk from $295.00 to $316.00 and gave the stock a “buy” rating in a research report on Monday. Barclays reduced their price objective on Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Bank of America dropped their target price on Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Finally, BMO Capital Markets reduced their price target on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $268.17.

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.