Autodesk, Inc. (NASDAQ:ADSK) Holdings Trimmed by Summit Trail Advisors LLC

Summit Trail Advisors LLC lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.5% in the third quarter, Holdings Channel.com reports. The firm owned 3,887 shares of the software company’s stock after selling 142 shares during the period. Summit Trail Advisors LLC’s holdings in Autodesk were worth $1,071,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ninety One UK Ltd lifted its stake in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Autodesk by 12.6% during the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock worth $603,947,000 after purchasing an additional 245,816 shares during the period. Legal & General Group Plc grew its position in Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock valued at $523,940,000 after purchasing an additional 81,314 shares in the last quarter. Van ECK Associates Corp increased its stake in Autodesk by 4.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company’s stock valued at $491,673,000 after buying an additional 74,394 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Autodesk by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,632,195 shares of the software company’s stock worth $403,887,000 after buying an additional 6,362 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling

In other news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 over the last three months. 0.14% of the stock is owned by corporate insiders.

Autodesk Stock Down 0.6 %

Shares of ADSK stock opened at $319.39 on Tuesday. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market cap of $68.67 billion, a PE ratio of 65.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. The stock has a 50 day moving average of $287.47 and a 200-day moving average of $255.89.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $1.12 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. DA Davidson started coverage on shares of Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective on the stock. Oppenheimer boosted their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley raised their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $309.43.

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.