Brown Capital Management LLC Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Brown Capital Management LLC reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 63.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,348 shares of the software company’s stock after selling 12,913 shares during the period. Brown Capital Management LLC’s holdings in Autodesk were worth $2,024,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ADSK. Marshall Financial Group LLC raised its position in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after buying an additional 35 shares during the period. Avitas Wealth Management LLC increased its stake in Autodesk by 0.8% in the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after purchasing an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after purchasing an additional 44 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Autodesk by 28.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after acquiring an additional 44 shares during the period. Finally, Johnson Investment Counsel Inc. raised its position in Autodesk by 5.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $307.84 on Thursday. The business has a 50 day simple moving average of $284.18 and a 200-day simple moving average of $253.46. Autodesk, Inc. has a twelve month low of $195.32 and a twelve month high of $315.73. The company has a market capitalization of $66.19 billion, a price-to-earnings ratio of 62.95, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on ADSK shares. BMO Capital Markets boosted their price target on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. DA Davidson assumed coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Royal Bank of Canada upped their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Oppenheimer boosted their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Piper Sandler lifted their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.38.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction on 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 transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is 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.