Hartford Investment Management Co. Sells 257 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Hartford Investment Management Co. decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,289 shares of the software company’s stock after selling 257 shares during the period. Hartford Investment Management Co.’s holdings in Autodesk were worth $3,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the 4th quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in Autodesk in the third quarter worth about $27,000. Concord Wealth Partners bought a new position in Autodesk during the 3rd quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in Autodesk during the 3rd quarter valued at about $28,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Autodesk in the 4th quarter valued at about $37,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $297.28 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $63.92 billion, a price-to-earnings ratio of 58.98, a PEG ratio of 3.17 and a beta of 1.43. The firm’s 50 day simple moving average is $299.71 and its 200-day simple moving average is $282.64. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ADSK shares. Bank of America increased their price objective on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their price objective on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Stifel Nicolaus upped their target price on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. UBS Group assumed coverage on Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price target for the company. Finally, Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.77.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company 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.