Douglas Lane & Associates LLC Has $34.22 Million Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Douglas Lane & Associates LLC cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,784 shares of the software company’s stock after selling 9,971 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Autodesk were worth $34,222,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ADSK. Jag Capital Management LLC bought a new stake in Autodesk in the 3rd quarter valued at about $13,861,000. LMR Partners LLP purchased a new position in shares of Autodesk in the 3rd quarter worth approximately $12,643,000. Starboard Value LP purchased a new stake in shares of Autodesk during the 3rd quarter valued at $510,189,000. Erste Asset Management GmbH purchased a new stake in Autodesk during the third quarter worth about $20,087,000. Finally, Bank of Montreal Can raised its holdings in shares of Autodesk by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock worth $248,385,000 after purchasing an additional 73,363 shares during the period. 90.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays increased their price target on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Wells Fargo & Company boosted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $326.05.

Autodesk Price Performance

Shares of NASDAQ ADSK traded up $4.97 during mid-day trading on Wednesday, reaching $295.79. 632,335 shares of the company were exchanged, compared to its average volume of 1,003,569. The stock has a market capitalization of $63.59 billion, a PE ratio of 58.69, a PEG ratio of 3.62 and a beta of 1.42. 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 52 week low of $195.32 and a 52 week high of $326.62. The company’s 50 day moving average price is $301.04 and its 200 day moving average price is $273.21.

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

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.