Redmond Asset Management LLC Sells 339 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Redmond Asset Management LLC lowered its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,728 shares of the software company’s stock after selling 339 shares during the quarter. Redmond Asset Management LLC’s holdings in Autodesk were worth $2,875,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ADSK. Paradigm Asset Management Co. LLC bought a new stake in shares of Autodesk during the 4th quarter valued at about $443,000. Waterfront Wealth Inc. boosted its holdings in shares of Autodesk by 2.6% during the 4th quarter. Waterfront Wealth Inc. now owns 4,260 shares of the software company’s stock worth $1,259,000 after buying an additional 108 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in Autodesk by 32.9% during the fourth quarter. Boston Financial Mangement LLC now owns 1,858 shares of the software company’s stock worth $549,000 after acquiring an additional 460 shares in the last quarter. First Bank & Trust boosted its stake in Autodesk by 1.9% during the fourth quarter. First Bank & Trust now owns 8,186 shares of the software company’s stock worth $2,420,000 after acquiring an additional 154 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in Autodesk by 4.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 2,705 shares of the software company’s stock worth $800,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Shares of ADSK stock opened at $285.00 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $61.28 billion, a price-to-earnings ratio of 56.55, a P/E/G ratio of 3.08 and a beta of 1.43. The firm’s 50-day simple moving average is $298.25 and its two-hundred day simple moving average is $285.27. Autodesk, Inc. has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. As a group, equities analysts forecast that Autodesk, Inc. will post 5.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADSK. BMO Capital Markets increased their price objective on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Rosenblatt Securities increased their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, Stifel Nicolaus increased their target price on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

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.