Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,075 shares of the software company’s stock after selling 3,955 shares during the period. Stoneridge Investment Partners LLC’s holdings in Autodesk were worth $2,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after buying an additional 363,565 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Autodesk by 263.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after acquiring an additional 4,563,668 shares during the period. Ninety One UK Ltd increased its holdings in Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares in the last quarter. Legal & General Group Plc raised its position in Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after acquiring an additional 81,314 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Autodesk by 4.5% during the third quarter. Van ECK Associates Corp now owns 1,717,367 shares of the software company’s stock valued at $491,673,000 after purchasing an additional 74,394 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler upped their price target on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Stifel Nicolaus lifted their price target on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Rosenblatt Securities boosted their price target on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Eight equities 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.95.

Autodesk Trading Up 0.4 %

Shares of Autodesk stock opened at $287.62 on Tuesday. Autodesk, Inc. has a fifty-two week low of $195.32 and a fifty-two week high of $294.13. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $61.84 billion, a price-to-earnings ratio of 58.82, a PEG ratio of 3.60 and a beta of 1.47. The stock has a 50 day moving average of $272.41 and a 200 day moving average of $246.11.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business posted $1.12 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the sale, the director now owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated 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 directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,280 shares of company stock valued at $5,200,929. Company insiders own 0.14% of the company’s stock.

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.