Sawgrass Asset Management LLC Sells 1,899 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sawgrass Asset Management LLC trimmed its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 46,267 shares of the software company’s stock after selling 1,899 shares during the quarter. Autodesk accounts for about 1.3% of Sawgrass Asset Management LLC’s holdings, making the stock its 29th biggest holding. Sawgrass Asset Management LLC’s holdings in Autodesk were worth $12,746,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new stake in Autodesk during the first quarter valued at about $25,000. LRI Investments LLC purchased a new stake in Autodesk during the 1st quarter valued at about $26,000. Olistico Wealth LLC bought a new position in Autodesk during the 2nd quarter worth approximately $26,000. Pacifica Partners Inc. increased its stake in Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Finally, Livelsberger Financial Advisory bought a new stake in Autodesk in the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Down 2.4 %

Shares of Autodesk stock opened at $299.15 on Friday. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $315.73. The firm has a market cap of $64.32 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 4.00 and a beta of 1.47. The company has a 50-day moving average of $281.32 and a 200 day moving average of $251.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

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 analysts’ consensus estimates of $2.00 by $0.15. The business 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%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADSK has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Royal Bank of Canada raised their price target on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Rosenblatt Securities upped their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley reiterated an “overweight” rating and set a $320.00 target price on shares of Autodesk in a report on Monday, September 30th. Finally, Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.20.

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.