Texas Permanent School Fund Corp Sells 8,851 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Texas Permanent School Fund Corp cut its holdings in shares of Autodesk, Inc. (NASDAQ:ADSK) by 20.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,367 shares of the software company’s stock after selling 8,851 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Autodesk were worth $8,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Freemont Management S.A. bought a new stake in Autodesk during the second quarter valued at about $1,188,000. Choreo LLC grew its position in shares of Autodesk by 282.9% during the second quarter. Choreo LLC now owns 5,988 shares of the software company’s stock valued at $1,474,000 after purchasing an additional 4,424 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Autodesk by 11.2% during the second quarter. Ballentine Partners LLC now owns 6,274 shares of the software company’s stock valued at $1,553,000 after purchasing an additional 631 shares in the last quarter. Caprock Group LLC grew its position in shares of Autodesk by 18.4% during the second quarter. Caprock Group LLC now owns 3,872 shares of the software company’s stock valued at $958,000 after purchasing an additional 601 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. grew its position in shares of Autodesk by 8.8% during the second quarter. Financial Gravity Asset Management Inc. now owns 8,184 shares of the software company’s stock valued at $2,025,000 after purchasing an additional 660 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Stock Up 0.8 %

Shares of NASDAQ:ADSK opened at $257.61 on Wednesday. Autodesk, Inc. has a 1 year low of $192.01 and a 1 year high of $279.53. The business has a 50 day simple moving average of $247.52 and a two-hundred day simple moving average of $239.00. The firm has a market capitalization of $55.39 billion, a PE ratio of 55.76, a price-to-earnings-growth ratio of 3.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.48 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Insider Activity

In other news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the sale, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,275 shares of company stock valued at $14,220,661. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADSK shares. Stifel Nicolaus raised their price objective on Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Citigroup raised their price objective on Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays raised their price objective on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Hsbc Global Res upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets lifted their price target on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Company 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.