Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 44.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,637 shares of the software company’s stock after selling 20,630 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Autodesk were worth $7,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jag Capital Management LLC acquired a new position in Autodesk during the third quarter worth approximately $13,861,000. LMR Partners LLP acquired a new position in Autodesk during the third quarter worth approximately $12,643,000. Starboard Value LP acquired a new position in Autodesk during the third quarter worth approximately $510,189,000. China Universal Asset Management Co. Ltd. grew its stake in Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after buying an additional 5,365 shares during the period. Finally, Brookstone Capital Management grew its stake in Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Down 0.8 %

ADSK stock opened at $297.28 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm’s 50-day simple moving average is $299.71 and its 200 day simple moving average is $282.64. The stock has a market cap of $63.92 billion, a PE ratio of 58.98, a price-to-earnings-growth ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 EPS. As a group, sell-side analysts predict that Autodesk, Inc. will post 5.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADSK shares. Morgan Stanley boosted their price objective on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their target price for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price for the company. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research note on Friday, November 29th. Finally, Rosenblatt Securities upped their target price on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.77.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

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.