Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 40.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,800 shares of the software company’s stock after selling 33,100 shares during the quarter. Forsta AP Fonden’s holdings in Autodesk were worth $11,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADSK. Beacon Financial Group boosted its holdings in shares of Autodesk by 4.1% in the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock valued at $304,000 after acquiring an additional 49 shares during the period. First Affirmative Financial Network boosted its holdings in shares of Autodesk by 2.8% in the first quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock valued at $469,000 after acquiring an additional 49 shares during the period. InTrack Investment Management Inc boosted its holdings in shares of Autodesk by 2.3% in the second quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock valued at $542,000 after acquiring an additional 49 shares during the period. Pacifica Partners Inc. boosted its holdings in shares of Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock valued at $27,000 after acquiring an additional 50 shares during the period. Finally, Oakworth Capital Inc. boosted its holdings in shares of Autodesk by 4.3% in the second quarter. Oakworth Capital Inc. now owns 1,209 shares of the software company’s stock valued at $299,000 after acquiring an additional 50 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADSK. Piper Sandler increased their price objective on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Oppenheimer increased their price target on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Barclays increased their price target on Autodesk from $275.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Royal Bank of Canada increased their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and increased their price target for the stock from $242.00 to $299.00 in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $292.17.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares in the company, valued at $7,418,010. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares in the company, valued at $7,418,010. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated 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 sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders sold a total of 38,762 shares of company stock worth $10,029,527 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Autodesk Trading Up 0.2 %

NASDAQ:ADSK opened at $259.47 on Friday. The stock has a fifty day moving average price of $248.04 and a two-hundred day moving average price of $239.28. The stock has a market capitalization of $55.92 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal 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.