Icon Wealth Advisors LLC Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Icon Wealth Advisors LLC decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,835 shares of the software company’s stock after selling 364 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Autodesk were worth $3,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in Autodesk during the fourth quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in Autodesk in the first quarter worth approximately $25,000. Bfsg LLC purchased a new stake in shares of Autodesk in the fourth quarter worth $27,000. Rakuten Securities Inc. purchased a new stake in shares of Autodesk in the fourth quarter worth $28,000. Finally, Eagle Bay Advisors LLC increased its stake in shares of Autodesk by 217.1% in the first quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock worth $29,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 0.3 %

Shares of NASDAQ:ADSK traded up $0.76 during trading hours on Tuesday, hitting $243.34. The company’s stock had a trading volume of 1,141,185 shares, compared to its average volume of 1,698,405. The firm’s fifty day moving average price is $234.13 and its 200 day moving average price is $240.23. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The company has a market capitalization of $52.44 billion, a price-to-earnings ratio of 52.67, a P/E/G ratio of 3.22 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. As a group, research analysts expect that Autodesk, Inc. will post 5.55 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the sale, the director now owns 31,016 shares of the company’s stock, valued at approximately $7,857,283.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $253.33, for a total transaction of $139,331.50. Following the completion of the transaction, the director now owns 31,016 shares of the company’s stock, valued at $7,857,283.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,381 shares of company stock valued at $9,401,282. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $275.00 price objective on shares of Autodesk in a research note on Tuesday, June 18th. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 target price for the company. in a report on Wednesday, May 1st. Mizuho lowered their target price on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Bank of America lowered their target price on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Finally, Robert W. Baird lowered their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $262.42.

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.