Valeo Financial Advisors LLC Reduces Position in Autodesk, Inc. (NASDAQ:ADSK)

Valeo Financial Advisors LLC reduced its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,485 shares of the software company’s stock after selling 278 shares during the period. Valeo Financial Advisors LLC’s holdings in Autodesk were worth $409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADSK. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Autodesk by 755.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,686 shares of the software company’s stock valued at $1,015,000 after purchasing an additional 3,255 shares in the last quarter. JGP Wealth Management LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at $899,000. Worth Asset Management LLC acquired a new stake in Autodesk during the 3rd quarter worth $1,439,000. Tobam lifted its position in Autodesk by 13.9% in the third quarter. Tobam now owns 953 shares of the software company’s stock valued at $263,000 after acquiring an additional 116 shares during the last quarter. Finally, Sendero Wealth Management LLC boosted its stake in Autodesk by 2.7% in the third quarter. Sendero Wealth Management LLC now owns 12,026 shares of the software company’s stock valued at $3,313,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,730 shares of company stock valued at $5,044,008. Insiders own 0.14% of the company’s stock.

Autodesk Stock Up 1.3 %

ADSK stock opened at $285.31 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $259.84 and its 200 day moving average price is $241.04. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $286.43. The company has a market cap of $61.49 billion, a P/E ratio of 61.76, a P/E/G ratio of 3.52 and a beta of 1.48.

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

Analyst Ratings Changes

ADSK has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Rosenblatt Securities boosted their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and raised their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. HSBC upgraded shares of Autodesk from a “hold” rating to a “buy” rating and upped their price target for the company from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Finally, Citigroup lifted their price objective on shares of Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $290.47.

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.