Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 76.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,632 shares of the software company’s stock after selling 369,437 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.05% of Autodesk worth $28,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the 4th quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in Autodesk during the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Autodesk during the 1st quarter worth approximately $26,000. Finally, Olistico Wealth LLC purchased a new position in shares of Autodesk during the 2nd quarter worth approximately $26,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now owns 31,899 shares in the company, valued at $7,916,693.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of Autodesk 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 in the company, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders have sold 38,762 shares of company stock worth $10,046,302 over the last quarter. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities increased their target price on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Robert W. Baird cut their target price on Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. KeyCorp reissued an “overweight” rating and set a $305.00 target price on shares of Autodesk in a research note on Monday, August 26th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Finally, Oppenheimer increased their target price on Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Stock Performance

Autodesk stock opened at $267.29 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a fifty day moving average of $250.26 and a two-hundred day moving average of $239.61. The company has a market capitalization of $57.60 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 3.29 and a beta of 1.48. Autodesk, Inc. has a fifty-two week low of $192.01 and a fifty-two week high of $279.53.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share 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 company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $1.12 earnings per share. Autodesk’s revenue was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Autodesk, Inc. will post 5.73 EPS for the current fiscal year.

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.