Gulf International Bank UK Ltd Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Gulf International Bank UK Ltd lowered its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,938 shares of the software company’s stock after selling 3,026 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Autodesk were worth $5,923,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Thomasville National Bank increased its stake in shares of Autodesk by 4.4% during the second quarter. Thomasville National Bank now owns 65,943 shares of the software company’s stock worth $16,318,000 after purchasing an additional 2,795 shares in the last quarter. CWM LLC increased its stake in Autodesk by 0.3% during the 2nd quarter. CWM LLC now owns 68,651 shares of the software company’s stock worth $16,988,000 after buying an additional 205 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Autodesk during the second quarter valued at approximately $26,000. Harbor Capital Advisors Inc. raised its holdings in shares of Autodesk by 4.8% during the second quarter. Harbor Capital Advisors Inc. now owns 3,148 shares of the software company’s stock valued at $779,000 after acquiring an additional 144 shares during the last quarter. Finally, First Bank & Trust boosted its stake in shares of Autodesk by 15.7% in the second quarter. First Bank & Trust now owns 7,870 shares of the software company’s stock worth $1,947,000 after acquiring an additional 1,065 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADSK has been the subject of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $239.00 price target on shares of Autodesk in a report on Wednesday, June 12th. Stifel Nicolaus reduced their price target on Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Robert W. Baird lowered their price target on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Bank of America cut their price objective on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Finally, KeyCorp reduced their target price on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $262.42.

Autodesk Price Performance

Shares of ADSK stock traded down $1.66 during trading hours on Wednesday, hitting $232.57. The company’s stock had a trading volume of 875,699 shares, compared to its average volume of 1,702,457. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average of $236.72 and a 200-day moving average of $239.96. The stock has a market cap of $50.12 billion, a price-to-earnings ratio of 50.34, a P/E/G ratio of 3.23 and a beta of 1.48. Autodesk, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its earnings results 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 analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.55 earnings per share. As a group, equities research analysts anticipate that Autodesk, Inc. will post 5.55 EPS for the current year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the transaction, the director now directly owns 31,566 shares in the company, valued at $7,418,010. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,381 shares of company stock worth $9,401,282. 0.14% of the stock is owned by insiders.

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.