Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,069 shares of the software company’s stock after selling 634 shares during the quarter. Acadian Asset Management LLC’s holdings in Autodesk were worth $1,253,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gallacher Capital Management LLC grew its position in Autodesk by 14.3% in the second quarter. Gallacher Capital Management LLC now owns 936 shares of the software company’s stock worth $232,000 after buying an additional 117 shares during the last quarter. Umpqua Bank grew its position in Autodesk by 7.2% in the second quarter. Umpqua Bank now owns 4,926 shares of the software company’s stock worth $1,219,000 after buying an additional 332 shares during the last quarter. Patron Partners LLC grew its position in Autodesk by 1.9% in the second quarter. Patron Partners LLC now owns 3,994 shares of the software company’s stock worth $988,000 after buying an additional 76 shares during the last quarter. UNIVEST FINANCIAL Corp grew its position in Autodesk by 89.9% in the second quarter. UNIVEST FINANCIAL Corp now owns 1,508 shares of the software company’s stock worth $373,000 after buying an additional 714 shares during the last quarter. Finally, Fluent Financial LLC boosted its stake in Autodesk by 67.3% in the 2nd quarter. Fluent Financial LLC now owns 1,534 shares of the software company’s stock worth $380,000 after purchasing an additional 617 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity

In other news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction dated 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 owns 17,099 shares of the company’s stock, valued at $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,212 shares of company stock valued at $9,900,277. Insiders own 0.14% of the company’s stock.

Autodesk Stock Up 1.7 %

ADSK stock opened at $263.96 on Monday. 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, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The company has a 50-day moving average of $248.36 and a two-hundred day moving average of $239.09. The stock has a market capitalization of $56.75 billion, a price-to-earnings ratio of 57.13, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. As a group, equities research analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADSK shares. Bank of America raised their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Berenberg Bank raised their price objective on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. The Goldman Sachs Group raised shares of Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Mizuho lifted their target price on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.17.

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.