Canada Pension Plan Investment Board Decreases Stake in Autodesk, Inc. (NASDAQ:ADSK)

Canada Pension Plan Investment Board cut its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 9.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 44,319 shares of the software company’s stock after selling 4,466 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Autodesk were worth $10,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Davidson Capital Management Inc. increased its holdings in shares of Autodesk by 22.5% in the second quarter. Davidson Capital Management Inc. now owns 13,122 shares of the software company’s stock valued at $3,247,000 after purchasing an additional 2,411 shares during the period. Ieq Capital LLC boosted its position in Autodesk by 2.4% in the second quarter. Ieq Capital LLC now owns 18,288 shares of the software company’s stock valued at $4,525,000 after buying an additional 421 shares during the last quarter. Intech Investment Management LLC increased its holdings in Autodesk by 376.3% in the 2nd quarter. Intech Investment Management LLC now owns 51,592 shares of the software company’s stock worth $12,766,000 after buying an additional 40,760 shares during the period. WCG Wealth Advisors LLC purchased a new position in Autodesk during the 2nd quarter worth approximately $2,941,000. Finally, Capco Asset Management LLC lifted its stake in Autodesk by 1.7% during the 2nd quarter. Capco Asset Management LLC now owns 97,237 shares of the software company’s stock valued at $24,061,000 after acquiring an additional 1,607 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADSK has been the topic of a number of research reports. KeyCorp reiterated an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a research note on Monday, August 26th. Citigroup lifted their price objective on Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Robert W. Baird lowered their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 29th. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Mizuho upped their price objective on Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Stock Up 0.4 %

ADSK opened at $268.46 on Tuesday. 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, Inc. has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a market cap of $57.86 billion, a PE ratio of 58.11, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. The company has a 50-day moving average price of $250.56 and a 200 day moving average price of $239.57.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. Sell-side analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, the director now directly owns 31,899 shares in the company, valued at approximately $7,916,693.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,762 shares of company stock worth $10,046,302. Corporate insiders own 0.14% of the company’s stock.

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.