17 Capital Partners LLC Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

17 Capital Partners LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 68.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,790 shares of the software company’s stock after selling 3,887 shares during the period. 17 Capital Partners LLC’s holdings in Autodesk were worth $493,000 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. Price T Rowe Associates Inc. MD grew its holdings in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd grew its stake in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp grew its stake in Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Price Performance

ADSK opened at $305.56 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $275.95 and its 200 day simple moving average is $248.05. The firm has a market cap of $65.70 billion, a price-to-earnings ratio of 62.49, a PEG ratio of 3.84 and a beta of 1.47. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $307.17.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the sale, the director now owns 30,799 shares in the company, valued at approximately $8,787,262.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the completion of the transaction, the director now owns 30,799 shares in the company, valued at $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,280 shares of company stock valued at $5,200,929 over the last ninety days. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADSK shares. DA Davidson began coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and upped their target price for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Oppenheimer lifted their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. KeyCorp restated an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a research report on Monday, August 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $320.00 target price on shares of Autodesk in a research note on Monday, September 30th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.95.

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.