Autodesk, Inc. (NASDAQ:ADSK) Position Trimmed by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,365 shares of the software company’s stock after selling 314 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Autodesk were worth $6,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in Autodesk by 129.0% in the third quarter. Federated Hermes Inc. now owns 3,526 shares of the software company’s stock worth $730,000 after purchasing an additional 1,986 shares during the period. AQR Capital Management LLC lifted its holdings in Autodesk by 10.7% in the third quarter. AQR Capital Management LLC now owns 248,245 shares of the software company’s stock worth $51,364,000 after purchasing an additional 24,016 shares during the period. Truist Financial Corp lifted its holdings in Autodesk by 8.6% in the third quarter. Truist Financial Corp now owns 199,457 shares of the software company’s stock worth $41,270,000 after purchasing an additional 15,747 shares during the period. Advisors Asset Management Inc. lifted its holdings in Autodesk by 3.6% in the third quarter. Advisors Asset Management Inc. now owns 9,648 shares of the software company’s stock worth $1,996,000 after purchasing an additional 331 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Autodesk by 14.2% in the third quarter. Ameriprise Financial Inc. now owns 2,364,179 shares of the software company’s stock worth $489,178,000 after purchasing an additional 293,464 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity

In other news, Director Mary T. Mcdowell sold 1,100 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Steven M. Blum sold 17,413 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the transaction, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders have sold 19,138 shares of company stock worth $4,338,701 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADSK shares. Mizuho reduced their price objective on shares of Autodesk from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Stifel Nicolaus cut their price target on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets cut their price target on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of Autodesk in a report on Tuesday, June 18th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $255.00 price target on shares of Autodesk in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Autodesk currently has an average rating of “Hold” and a consensus price target of $262.42.

Autodesk Price Performance

Shares of ADSK opened at $245.83 on Tuesday. The company has a market capitalization of $52.98 billion, a price-to-earnings ratio of 53.21, a P/E/G ratio of 3.31 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. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day moving average is $221.13 and its 200-day moving average is $239.12.

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

Autodesk Company 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.