Sky Investment Group LLC Sells 112 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Sky Investment Group LLC reduced its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,296 shares of the software company’s stock after selling 112 shares during the quarter. Sky Investment Group LLC’s holdings in Autodesk were worth $2,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADSK. Jag Capital Management LLC bought a new stake in Autodesk during the 3rd quarter valued at about $13,861,000. LMR Partners LLP purchased a new stake in Autodesk during the third quarter worth $12,643,000. Starboard Value LP bought a new stake in Autodesk during the third quarter valued at about $510,189,000. Erste Asset Management GmbH bought a new stake in shares of Autodesk in the 3rd quarter valued at about $20,087,000. Finally, Brookstone Capital Management grew its holdings in Autodesk by 1,058.9% in the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after purchasing an additional 26,768 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Up 0.5 %

NASDAQ:ADSK opened at $291.45 on Tuesday. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average is $300.44 and its two-hundred day moving average is $275.79. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 3.36 and a beta of 1.42.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Macquarie assumed coverage on Autodesk in a research report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price target for the company. Robert W. Baird upped their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. DA Davidson began coverage on Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Citigroup upped their target price on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $326.05.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

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.