William Blair Investment Management LLC Sells 61,710 Shares of Autodesk, Inc. (NASDAQ:ADSK)

William Blair Investment Management LLC lessened its stake in Autodesk, Inc. (NASDAQ:ADSK) by 36.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,611 shares of the software company’s stock after selling 61,710 shares during the period. William Blair Investment Management LLC’s holdings in Autodesk were worth $26,381,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADSK. Johnson Investment Counsel Inc. boosted its position in shares of Autodesk by 5.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock valued at $228,000 after purchasing an additional 45 shares in the last quarter. Beacon Financial Group boosted its holdings in Autodesk by 4.1% in the fourth quarter. Beacon Financial Group now owns 1,248 shares of the software company’s stock worth $304,000 after acquiring an additional 49 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Autodesk by 2.8% in the first quarter. First Affirmative Financial Network now owns 1,802 shares of the software company’s stock worth $469,000 after acquiring an additional 49 shares in the last quarter. InTrack Investment Management Inc boosted its holdings in Autodesk by 2.3% in the second quarter. InTrack Investment Management Inc now owns 2,189 shares of the software company’s stock worth $542,000 after acquiring an additional 49 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its holdings in Autodesk by 83.3% in the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets increased their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Citigroup increased their price objective on Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Mizuho increased their price target on Autodesk from $230.00 to $260.00 and gave the company a “neutral” 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.17.

Autodesk Price Performance

Autodesk stock opened at $263.96 on Monday. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53. The business has a fifty day moving average price of $248.36 and a 200-day moving average price of $239.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $56.75 billion, a P/E ratio of 57.13, a PEG ratio of 3.29 and a beta of 1.48.

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

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction on 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 sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the firm’s 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 sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $253.33, for a total value of $139,331.50. Following the sale, the director now owns 31,016 shares in the company, valued at approximately $7,857,283.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,212 shares of company stock valued at $9,900,277. 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.