Pacer Advisors Inc. Sells 5,498 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Pacer Advisors Inc. trimmed its stake in Autodesk, Inc. (NASDAQ:ADSK) by 14.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,282 shares of the software company’s stock after selling 5,498 shares during the period. Pacer Advisors Inc.’s holdings in Autodesk were worth $8,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. DE Burlo Group Inc. lifted its position in Autodesk by 16.0% in the third quarter. DE Burlo Group Inc. now owns 108,140 shares of the software company’s stock worth $29,790,000 after buying an additional 14,900 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Autodesk by 394.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company’s stock valued at $156,296,000 after acquiring an additional 452,728 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in shares of Autodesk by 464.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 10,920 shares of the software company’s stock worth $3,008,000 after acquiring an additional 8,987 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Autodesk by 3.8% in the 3rd quarter. Primecap Management Co. CA now owns 680,820 shares of the software company’s stock worth $187,552,000 after acquiring an additional 24,920 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of Autodesk during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup upped their price objective on Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their price target for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Berenberg Bank boosted their price objective on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. KeyCorp upped their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Scotiabank started coverage on shares of Autodesk in a research note on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $309.43.

Autodesk Stock Up 1.9 %

NASDAQ:ADSK opened at $321.27 on Friday. The company’s 50-day simple moving average is $286.44 and its 200-day simple moving average is $254.89. 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, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $321.90. The stock has a market capitalization of $69.07 billion, a P/E ratio of 65.70, a P/E/G ratio of 4.03 and a beta of 1.47.

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

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the transaction, the director now owns 31,349 shares in the company, valued at $8,323,159.50. The trade was a 1.72 % 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 worth $5,232,213 in the last ninety days. 0.14% of the stock is owned by insiders.

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.