InterOcean Capital Group LLC Sells 55 Shares of Autodesk, Inc. (NASDAQ:ADSK)

InterOcean Capital Group LLC lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237 shares of the software company’s stock after selling 55 shares during the period. InterOcean Capital Group LLC’s holdings in Autodesk were worth $322,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADSK. Manchester Capital Management LLC lifted its position in shares of Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock valued at $378,000 after buying an additional 169 shares during the last quarter. TD Asset Management Inc grew its position in Autodesk by 153.0% during the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock worth $93,589,000 after acquiring an additional 232,441 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Autodesk by 58.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock worth $4,297,000 after purchasing an additional 6,481 shares during the last quarter. abrdn plc increased its position in Autodesk by 26.2% in the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after acquiring an additional 95,723 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Autodesk by 12.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock valued at $17,991,000 after purchasing an additional 8,456 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,381 shares of company stock worth $9,401,282. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

ADSK has been the subject of several recent analyst reports. StockNews.com downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus reduced their price objective on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Bank of America cut their price target on Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Morgan Stanley restated an “equal weight” rating and issued a $255.00 target price on shares of Autodesk in a report on Wednesday, June 12th. Finally, Robert W. Baird lowered their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $262.42.

Autodesk Price Performance

Shares of NASDAQ:ADSK traded up $2.78 during trading on Thursday, hitting $242.23. 1,679,806 shares of the company’s stock were exchanged, compared to its average volume of 1,712,228. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The business’s 50-day simple moving average is $232.42 and its 200 day simple moving average is $240.12. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $52.20 billion, a price-to-earnings ratio of 51.83, a PEG ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Autodesk’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Autodesk, Inc. will post 5.55 EPS for the current 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.