DRW Securities LLC Trims Stake in Autodesk, Inc. (NASDAQ:ADSK)

DRW Securities LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 51.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,087 shares of the software company’s stock after selling 1,148 shares during the quarter. DRW Securities LLC’s holdings in Autodesk were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ninety One UK Ltd boosted its holdings 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 worth $1,255,054,000 after buying an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of 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 in the last quarter. International Assets Investment Management LLC increased its stake in shares of 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 valued at $1,564,170,000 after purchasing an additional 566,826 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Autodesk by 394.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after purchasing an additional 452,728 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. KeyCorp upped their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. BMO Capital Markets lifted their target price on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Mizuho upped their price target on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Autodesk has an average rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Trading Down 8.6 %

Shares of ADSK opened at $290.64 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $289.02 and a 200 day moving average price of $256.83. Autodesk, Inc. has a 12-month low of $195.32 and a 12-month high of $326.62. The firm has a market capitalization of $62.49 billion, a P/E ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. During the same quarter last year, the firm earned $1.33 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

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

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.