Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,379 shares of the software company’s stock after selling 521 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Autodesk were worth $1,757,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Marshall Financial Group LLC increased its stake in 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 shares of Autodesk by 0.8% during the third quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock valued at $1,536,000 after acquiring an additional 42 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in Autodesk by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock worth $959,000 after purchasing an additional 44 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in Autodesk by 5.1% in the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after purchasing an additional 45 shares during the period. Finally, First Affirmative Financial Network boosted its stake in Autodesk by 2.6% during the 3rd quarter. First Affirmative Financial Network now owns 1,873 shares of the software company’s stock valued at $516,000 after purchasing an additional 47 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. DA Davidson began coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective for the company. Oppenheimer raised their price objective on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Citigroup set a $325.00 target price on shares of Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company started coverage on Autodesk in a report on Wednesday, October 16th. They issued an “overweight” rating and a $340.00 price target on the stock. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $296.20.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the business’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 owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % 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 in the last three months. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

ADSK stock opened at $299.15 on Friday. The firm has a 50 day simple moving average of $281.32 and a 200 day simple moving average of $251.50. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $315.73. The stock has a market cap of $64.32 billion, a P/E ratio of 61.18, a P/E/G ratio of 4.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its quarterly 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company posted $1.12 EPS. Autodesk’s revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

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.