Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 60.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251 shares of the software company’s stock after selling 391 shares during the period. LGT Financial Advisors LLC’s holdings in Autodesk were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk in the fourth quarter valued at approximately $25,000. Concord Wealth Partners acquired a new stake in Autodesk in the 1st quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new stake in Autodesk in the 1st quarter worth $25,000. LRI Investments LLC acquired a new position in Autodesk during the first quarter worth $26,000. Finally, Olistico Wealth LLC purchased a new position in Autodesk during the second quarter valued at $26,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders sold a total of 57,275 shares of company stock valued at $14,220,661 over the last three months. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the company from $225.00 to $295.00 in a report on Tuesday. Morgan Stanley increased their price target on Autodesk from $305.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, August 30th. BMO Capital Markets upped their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. Finally, Berenberg Bank boosted their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

Autodesk Stock Performance

NASDAQ:ADSK opened at $251.77 on Friday. The firm’s fifty day simple moving average is $247.07 and its 200-day simple moving average is $239.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a market cap of $54.26 billion, a PE ratio of 54.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $1.12 earnings per share. Autodesk’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts expect that Autodesk, Inc. will post 5.55 earnings per share for the current fiscal year.

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.