Raymond James & Associates Cuts Position in Autodesk, Inc. (NASDAQ:ADSK)

Raymond James & Associates reduced its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,864 shares of the software company’s stock after selling 84,102 shares during the quarter. Raymond James & Associates owned 0.15% of Autodesk worth $80,635,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after acquiring an additional 4,563,668 shares during the period. Norges Bank purchased a new position in shares of Autodesk in the fourth quarter valued at $619,404,000. Van ECK Associates Corp grew its holdings in Autodesk by 1,162.9% during the 1st quarter. Van ECK Associates Corp now owns 817,808 shares of the software company’s stock valued at $212,973,000 after purchasing an additional 753,051 shares in the last quarter. FIL Ltd increased its stake in Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares during the period. Finally, Cantillon Capital Management LLC increased its stake in Autodesk by 35.1% during the 4th quarter. Cantillon Capital Management LLC now owns 1,702,608 shares of the software company’s stock worth $414,551,000 after buying an additional 442,005 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

NASDAQ ADSK traded down $1.98 on Friday, reaching $248.23. 1,075,389 shares of the stock traded hands, compared to its average volume of 1,669,282. Autodesk, Inc. has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The firm’s fifty day simple moving average is $241.44 and its 200 day simple moving average is $239.49. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 53.73, a P/E/G ratio of 3.23 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.10. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, research analysts predict that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADSK. Mizuho cut their target price on Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective for the company. in a report on Wednesday, May 1st. Robert W. Baird dropped their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus lowered their price objective on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $262.42.

Insider Transactions at Autodesk

In other news, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders sold a total of 39,931 shares of company stock valued at $9,537,781 over the last quarter. Company insiders own 0.14% of the company’s stock.

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.