Park Avenue Securities LLC Reduces Stake in Autodesk, Inc. (NASDAQ:ADSK)

Park Avenue Securities LLC decreased its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,264 shares of the software company’s stock after selling 190 shares during the period. Park Avenue Securities LLC’s holdings in Autodesk were worth $850,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. purchased a new stake in Autodesk during the 4th quarter worth about $25,000. Bfsg LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Autodesk in the 4th quarter valued at about $28,000. Private Wealth Management Group LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at about $31,000. Finally, First United Bank & Trust purchased a new stake in shares of Autodesk in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ADSK shares. Robert W. Baird lowered their price target on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. BMO Capital Markets lowered their price target on Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. The Goldman Sachs Group raised their price target on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a report on Friday, March 1st. Piper Sandler Companies increased their price objective on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Bank of America reduced their price objective on Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Autodesk currently has an average rating of “Hold” and an average target price of $262.42.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the sale, the director now directly owns 31,566 shares in the company, valued at approximately $7,418,010. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Steven M. Blum sold 17,413 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now directly owns 31,566 shares in the company, valued at $7,418,010. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,138 shares of company stock worth $4,339,111. 0.14% of the stock is currently owned by insiders.

Autodesk Price Performance

ADSK opened at $243.28 on Thursday. The stock’s 50 day simple moving average is $219.28 and its 200 day simple moving average is $238.80. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The firm has a market cap of $52.43 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 3.24 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.10. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. Autodesk’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. As a group, analysts predict that Autodesk, Inc. will post 5.55 earnings per share for the current year.

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.