Exchange Traded Concepts LLC Lowers Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Exchange Traded Concepts LLC lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,500 shares of the software company’s stock after selling 12,109 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Autodesk were worth $25,271,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the third quarter worth $27,000. Concord Wealth Partners purchased a new position in Autodesk during the 3rd quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in Autodesk in the 3rd quarter valued at about $28,000. Central Pacific Bank Trust Division purchased a new stake in Autodesk during the fourth quarter worth about $37,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Oppenheimer increased their price objective on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Macquarie initiated coverage on Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target on the stock. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Morgan Stanley raised their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $326.05.

Autodesk Price Performance

Autodesk stock opened at $301.41 on Friday. The company has a market cap of $64.80 billion, a P/E ratio of 59.80, a price-to-earnings-growth ratio of 3.55 and a beta of 1.42. Autodesk, Inc. has a one year low of $195.32 and a one year high of $326.62. The business has a fifty day moving average of $299.50 and a two-hundred day moving average of $276.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the 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 in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently 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.