Stonegate Investment Group LLC Sells 156 Shares of Autodesk, Inc. (NASDAQ:ADSK)

by · The Markets Daily

Stonegate Investment Group LLC reduced its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK – Free Report) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,688 shares of the software company’s stock after selling 156 shares during the quarter. Stonegate Investment Group LLC’s holdings in Autodesk were worth $4,873,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Meyer Handelman Co. bought a new position in Autodesk during the first quarter worth $903,000. TD Asset Management Inc boosted its holdings in shares of Autodesk by 13.0% during the 1st quarter. TD Asset Management Inc now owns 434,407 shares of the software company’s stock worth $113,128,000 after buying an additional 50,027 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its holdings in Autodesk by 10.9% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 50,291 shares of the software company’s stock valued at $13,097,000 after acquiring an additional 4,932 shares during the period. Cetera Investment Advisers lifted its position in Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after acquiring an additional 38,196 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Autodesk by 8.2% during the second quarter. Primecap Management Co. CA now owns 655,900 shares of the software company’s stock worth $162,302,000 after acquiring an additional 49,500 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Steven M. Blum sold 17,344 shares of Autodesk stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now directly owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,200,929 over the last quarter. Company insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

Autodesk stock traded up $2.43 during trading on Friday, hitting $293.00. The stock had a trading volume of 298,350 shares, compared to its average volume of 1,603,418. The stock’s 50 day moving average is $263.05 and its two-hundred day moving average is $241.90. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $293.00. The stock has a market cap of $63.14 billion, a price-to-earnings ratio of 63.12, a price-to-earnings-growth ratio of 3.52 and a beta of 1.48. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK – Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating 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 firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on ADSK shares. BMO Capital Markets boosted their price target on Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a research note on Friday, August 30th. Oppenheimer upped their price target on shares of Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Mizuho raised their price target on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Barclays boosted their price objective on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the company from $225.00 to $295.00 in a report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Autodesk currently has a consensus rating of “Moderate Buy” and an average price target of $292.95.

View Our Latest Stock Analysis on ADSK

Autodesk Company Profile

(Free Report)

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.

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