Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lowered its stake in Autodesk, Inc. (NASDAQ:ADSK) by 41.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,023 shares of the software company’s stock after selling 725 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Autodesk were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk during the 1st quarter valued at $26,000. Olistico Wealth LLC purchased a new stake in Autodesk during the 2nd quarter worth $26,000. Pacifica Partners Inc. lifted its holdings 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 buying an additional 50 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased a new position in Autodesk in the 3rd quarter valued at about $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Up 1.9 %

Autodesk stock opened at $321.27 on Friday. 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 one year low of $195.32 and a one year high of $321.90. The company has a 50-day simple moving average of $286.44 and a 200-day simple moving average of $254.89. The firm 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 posted its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS. As a group, equities analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADSK. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. BMO Capital Markets increased their target price on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. KeyCorp raised their price target on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Oppenheimer raised their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $309.43.

Insider Activity at Autodesk

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 stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction, the director now directly owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. 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 three months. 0.14% of the stock is owned by company insiders.

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.