DekaBank Deutsche Girozentrale Decreases Holdings in Autodesk, Inc. (NASDAQ:ADSK)

DekaBank Deutsche Girozentrale reduced its stake in Autodesk, Inc. (NASDAQ:ADSK) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,832 shares of the software company’s stock after selling 18,068 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Autodesk were worth $103,200,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Autodesk by 1.9% in the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after buying an additional 363,565 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after acquiring an additional 4,563,668 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the period. Legal & General Group Plc lifted its position in shares of Autodesk by 4.0% during the second quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after purchasing an additional 81,314 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Autodesk by 100.9% in the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Berenberg Bank lifted their price target 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. Piper Sandler lifted their target price on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. KeyCorp reissued an “overweight” rating and issued a $305.00 price target on shares of Autodesk in a report on Monday, August 26th. Oppenheimer raised their price objective on Autodesk from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Mizuho set a $260.00 target price on Autodesk in a research report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.95.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $286.04 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $268.25 and its two-hundred day moving average price is $243.56. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $294.13. The stock has a market capitalization of $61.64 billion, a P/E ratio of 61.91, a P/E/G ratio of 3.52 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (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 return on equity of 59.41% and a net margin of 18.21%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, sell-side analysts forecast that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the sale, the director now owns 30,799 shares of the company’s stock, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now directly owns 30,799 shares in the company, valued at $8,787,262.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,280 shares of company stock worth $5,200,929. 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.