Parallel Advisors LLC Has $465,000 Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Parallel Advisors LLC trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,878 shares of the software company’s stock after selling 141 shares during the quarter. Parallel Advisors LLC’s holdings in Autodesk were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the fourth quarter valued at approximately $25,000. Concord Wealth Partners acquired a new stake in Autodesk during the first quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk during the first quarter valued at approximately $26,000. Finally, Olistico Wealth LLC acquired a new stake in Autodesk during the second quarter valued at approximately $26,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADSK. Piper Sandler lifted their price objective on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their target price on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” 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 lifted their target price for the company from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Stifel Nicolaus lifted their target price on shares of Autodesk from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Price Performance

ADSK opened at $266.89 on Wednesday. The company has a fifty day moving average price of $249.22 and a two-hundred day moving average price of $239.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53. The firm has a market capitalization of $57.52 billion, a PE ratio of 57.77, a P/E/G ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current year.

Insider Activity

In other news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $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 on Thursday, August 15th. The shares were sold at an average price of $248.18, for a total value of $136,499.00. Following the completion of the transaction, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders sold 38,762 shares of company stock valued at $10,046,302 in the last quarter. 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.