Salvus Wealth Management LLC Trims Stake in Autodesk, Inc. (NASDAQ:ADSK)

Salvus Wealth Management LLC lessened its position in Autodesk, Inc. (NASDAQ:ADSK) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,515 shares of the software company’s stock after selling 89 shares during the quarter. Salvus Wealth Management LLC’s holdings in Autodesk were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Navalign LLC raised its holdings in shares of Autodesk by 4.0% in the 1st quarter. Navalign LLC now owns 2,660 shares of the software company’s stock valued at $693,000 after buying an additional 103 shares during the period. FCF Advisors LLC raised its holdings in shares of Autodesk by 5.5% in the 1st quarter. FCF Advisors LLC now owns 14,004 shares of the software company’s stock valued at $3,647,000 after buying an additional 729 shares during the period. Fort Pitt Capital Group LLC raised its holdings in shares of Autodesk by 24.1% in the 1st quarter. Fort Pitt Capital Group LLC now owns 2,734 shares of the software company’s stock valued at $712,000 after buying an additional 531 shares during the period. Ballentine Partners LLC raised its holdings in shares of Autodesk by 4.6% in the 1st quarter. Ballentine Partners LLC now owns 5,643 shares of the software company’s stock valued at $1,470,000 after buying an additional 249 shares during the period. Finally, Crestmont Private Wealth LLC raised its holdings in shares of Autodesk by 10.6% in the 1st quarter. Crestmont Private Wealth LLC now owns 1,289 shares of the software company’s stock valued at $336,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Autodesk in a report on Tuesday, June 18th. Rosenblatt Securities reissued a “buy” rating and set a $290.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. Stifel Nicolaus lowered their target price on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Mizuho lowered their target price on Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, Piper Sandler reissued a “neutral” rating and set a $239.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $262.42.

Insider Buying and Selling at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the completion of the transaction, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders sold a total of 47,501 shares of company stock valued at $11,714,162 in the last ninety days. Insiders own 0.14% of the company’s stock.

Autodesk Stock Up 1.4 %

Shares of NASDAQ:ADSK traded up $3.38 on Tuesday, hitting $242.55. 124,987 shares of the company’s stock were exchanged, compared to its average volume of 1,761,471. The company has a market capitalization of $52.27 billion, a PE ratio of 52.50, a P/E/G ratio of 3.24 and a beta of 1.43. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk, Inc. has a 1-year low of $192.01 and a 1-year high of $279.53. The firm’s 50-day moving average is $218.99 and its 200 day moving average is $238.67.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS. Sell-side analysts predict that Autodesk, Inc. will post 5.55 EPS for the current 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.