PNC Financial Services Group Inc. Sells 5,435 Shares of Autodesk, Inc. (NASDAQ:ADSK)

PNC Financial Services Group Inc. lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,771 shares of the software company’s stock after selling 5,435 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Autodesk were worth $26,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in shares of Autodesk by 2.9% during the first quarter. Acadian Asset Management LLC now owns 5,703 shares of the software company’s stock worth $1,482,000 after acquiring an additional 161 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Autodesk by 19,480.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,874 shares of the software company’s stock worth $1,530,000 after buying an additional 5,844 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Autodesk during the first quarter worth approximately $414,000. EP Wealth Advisors LLC bought a new position in Autodesk in the first quarter valued at approximately $202,000. Finally, Axxcess Wealth Management LLC grew its holdings in Autodesk by 61.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,022 shares of the software company’s stock worth $527,000 after acquiring an additional 773 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Buying and Selling

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,280 shares of company stock worth $5,232,213. Insiders own 0.14% of the company’s stock.

Autodesk Trading Up 2.4 %

Autodesk stock opened at $315.22 on Friday. The company has a market cap of $67.77 billion, a price-to-earnings ratio of 64.46, a P/E/G ratio of 3.90 and a beta of 1.47. The firm has a 50-day moving average of $285.29 and a 200-day moving average of $253.88. 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 one year low of $195.32 and a one year high of $317.45.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $1.12 earnings per share. On average, equities analysts expect that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADSK shares. Barclays raised their price target on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stifel Nicolaus increased their price target on shares of Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Rosenblatt Securities boosted their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada increased their target price on shares of Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Scotiabank assumed coverage on shares of Autodesk in a research report on Monday. They set a “sector outperform” rating and a $360.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen 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 target price of $302.38.

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.