Pacer Advisors Inc. Sells 2,368 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Pacer Advisors Inc. trimmed its position in Autodesk, Inc. (NASDAQ:ADSK) by 7.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,914 shares of the software company’s stock after selling 2,368 shares during the period. Pacer Advisors Inc.’s holdings in Autodesk were worth $8,546,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jag Capital Management LLC bought a new stake in Autodesk during the 3rd quarter worth about $13,861,000. LMR Partners LLP bought a new position in Autodesk in the third quarter valued at approximately $12,643,000. Starboard Value LP acquired a new stake in Autodesk during the 3rd quarter worth $510,189,000. Erste Asset Management GmbH bought a new stake in shares of Autodesk during the 3rd quarter valued at $20,087,000. Finally, Brookstone Capital Management lifted its stake in shares of Autodesk by 1,058.9% in the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after purchasing an additional 26,768 shares during the period. Institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the subject of a number of analyst reports. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and upped their price target for the company from $280.00 to $400.00 in a research note on Tuesday. Citigroup lifted their price objective on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. BMO Capital Markets upped their target price on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $331.50.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Autodesk Price Performance

NASDAQ:ADSK opened at $304.17 on Thursday. Autodesk, Inc. has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a market cap of $65.40 billion, a P/E ratio of 60.35, a P/E/G ratio of 3.55 and a beta of 1.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $299.46 and its 200 day simple moving average is $278.36.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 EPS. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Autodesk 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.