Autodesk, Inc. (NASDAQ:ADSK) Stake Trimmed by Davidson Capital Management Inc.

Davidson Capital Management Inc. lessened its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,021 shares of the software company’s stock after selling 101 shares during the period. Autodesk accounts for approximately 1.0% of Davidson Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Davidson Capital Management Inc.’s holdings in Autodesk were worth $3,587,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ADSK. China Universal Asset Management Co. Ltd. grew its holdings in shares of Autodesk by 111.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,734 shares of the software company’s stock worth $753,000 after purchasing an additional 1,438 shares during the last quarter. abrdn plc grew its stake in Autodesk by 5.7% in the third quarter. abrdn plc now owns 780,899 shares of the software company’s stock valued at $213,900,000 after purchasing an additional 41,857 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Autodesk in the third quarter valued at approximately $28,000. Inscription Capital LLC lifted its holdings in Autodesk by 21.9% during the 3rd quarter. Inscription Capital LLC now owns 1,025 shares of the software company’s stock worth $282,000 after purchasing an additional 184 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its holdings in Autodesk by 17.5% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,732 shares of the software company’s stock worth $1,304,000 after purchasing an additional 706 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Stock Performance

Shares of NASDAQ:ADSK traded up $2.15 on Tuesday, hitting $288.67. 311,888 shares of the company were exchanged, compared to its average volume of 1,589,311. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $294.13. The stock’s 50 day moving average price is $268.96 and its 200 day moving average price is $243.88. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $62.21 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The company 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%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 earnings per share. Sell-side analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the completion of the transaction, the director now directly owns 30,799 shares in the company, valued at approximately $8,787,262.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction on Monday, September 30th. The shares were 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 in the company, valued at $1,340,944.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,280 shares of company stock valued at $5,200,929. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADSK shares. BMO Capital Markets boosted their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America increased their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. KeyCorp reissued an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a research note on Monday, August 26th. Finally, Piper Sandler increased their price target on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.95.

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.