Wharton Business Group LLC Lowers Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Wharton Business Group LLC reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,445 shares of the software company’s stock after selling 37 shares during the period. Wharton Business Group LLC’s holdings in Autodesk were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the 1st quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new position in shares of Autodesk in the 3rd quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at approximately $28,000. Finally, Concord Wealth Partners purchased a new stake in shares of Autodesk in the third quarter valued at approximately $28,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock valued at $5,232,213 over the last quarter. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $300.01 on Monday. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The stock has a market cap of $64.50 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 3.82 and a beta of 1.47. The business has a fifty day moving average of $281.32 and a 200-day moving average of $251.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

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

Analyst Ratings Changes

A number of research firms recently weighed in on ADSK. Oppenheimer lifted their price target on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Royal Bank of Canada lifted their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. BMO Capital Markets lifted their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus lifted their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $298.25.

About Autodesk

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.