Pitcairn Co. Trims Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Pitcairn Co. decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 16.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,029 shares of the software company’s stock after selling 2,874 shares during the quarter. Pitcairn Co.’s holdings in Autodesk were worth $4,140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ADSK. CreativeOne Wealth LLC purchased a new stake in Autodesk in the first quarter valued at $414,000. EP Wealth Advisors LLC purchased a new stake in Autodesk in the first quarter valued at $202,000. Axxcess Wealth Management LLC raised its position in Autodesk by 61.9% in the first quarter. Axxcess Wealth Management LLC now owns 2,022 shares of the software company’s stock valued at $527,000 after purchasing an additional 773 shares during the period. Advisors Asset Management Inc. raised its position in Autodesk by 16.8% in the first quarter. Advisors Asset Management Inc. now owns 12,305 shares of the software company’s stock valued at $3,204,000 after purchasing an additional 1,766 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Autodesk by 20,050.0% in the first quarter. 1832 Asset Management L.P. now owns 2,015 shares of the software company’s stock valued at $525,000 after purchasing an additional 2,005 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ADSK. Wells Fargo & Company lifted their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Mizuho set a $260.00 price objective on Autodesk in a report on Friday, October 18th. Piper Sandler boosted their price objective on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $309.43.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred 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 directly owns 30,249 shares of the company’s stock, 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. In the last three months, insiders sold 19,280 shares of company stock valued at $5,232,213. Insiders own 0.14% of the company’s stock.

Autodesk Trading Up 1.9 %

NASDAQ:ADSK opened at $321.27 on Friday. The stock has a 50-day simple moving average of $286.44 and a 200-day simple moving average of $254.61. The stock has a market cap 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, Inc. has a 1 year low of $195.32 and a 1 year high of $321.90. 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 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. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

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.