NFJ Investment Group LLC Lowers Position in Autodesk, Inc. (NASDAQ:ADSK)

NFJ Investment Group LLC decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 36.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,657 shares of the software company’s stock after selling 5,629 shares during the period. NFJ Investment Group LLC’s holdings in Autodesk were worth $2,660,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Livelsberger Financial Advisory purchased a new position in Autodesk during the 3rd quarter worth $27,000. Transcendent Capital Group LLC purchased a new stake in Autodesk in the 3rd quarter valued at about $28,000. Concord Wealth Partners bought a new stake in Autodesk during the third quarter worth $28,000. Pacifica Partners Inc. raised its stake in shares of Autodesk by 83.3% during the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Finally, Stephens Consulting LLC purchased a new position in shares of Autodesk in the 2nd quarter worth about $32,000. Institutional investors own 90.24% of the company’s stock.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the company’s 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 directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock valued at $549,333 over the last 90 days. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ:ADSK opened at $298.96 on Wednesday. The stock has a market cap of $64.28 billion, a P/E ratio of 59.32, a PEG ratio of 3.50 and a beta of 1.43. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $291.08 and its two-hundred day moving average price is $259.23. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.33 earnings per share. As a group, equities analysts predict that Autodesk, Inc. will post 5.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADSK. Rosenblatt Securities raised their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Piper Sandler increased their price objective on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Citigroup upped their price target on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

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.