Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701,231 shares of the software company’s stock after selling 227,456 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Autodesk were worth $173,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADSK. Price T Rowe Associates Inc. MD grew its stake in Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Norges Bank purchased a new stake in Autodesk during the 4th quarter worth about $619,404,000. Ninety One UK Ltd lifted its holdings in Autodesk by 28.0% during the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Autodesk by 100.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a report on Tuesday, September 3rd. KeyCorp reaffirmed an “overweight” rating and set a $305.00 price target on shares of Autodesk in a report on Monday, August 26th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and boosted their target price for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus boosted their target price on Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Seven equities 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Stock Performance

Shares of ADSK stock opened at $263.96 on Monday. The stock has a market capitalization of $56.75 billion, a PE ratio of 57.13, a price-to-earnings-growth ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a 52-week low of $192.01 and a 52-week high of $279.53. The stock’s 50-day moving average price is $248.36 and its 200 day moving average price is $239.09. 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 (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Autodesk, Inc. will post 5.73 EPS for the current year.

Insiders Place Their Bets

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 in the company, valued at approximately $4,616,730. 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 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 in the company, valued at approximately $4,616,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,212 shares of company stock worth $9,900,277. Company 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.