Oppenheimer Asset Management Inc. Sells 54,824 Shares of Autodesk, Inc. (NASDAQ:ADSK)

Oppenheimer Asset Management Inc. lowered its stake in shares of Autodesk, Inc. (NASDAQ:ADSK) by 81.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,430 shares of the software company’s stock after selling 54,824 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Autodesk were worth $3,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk during the 4th quarter worth $25,000. Concord Wealth Partners acquired a new position in Autodesk during the 1st quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk in the first quarter valued at about $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the first quarter worth about $26,000. Finally, Olistico Wealth LLC acquired a new position in shares of Autodesk during the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction dated Thursday, July 11th. The stock was 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 directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the sale, the director now directly owns 31,899 shares in the company, valued at approximately $7,916,693.82. 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 three months. Corporate insiders own 0.14% of the company’s stock.

Autodesk Stock Up 1.4 %

Shares of NASDAQ:ADSK opened at $267.73 on Tuesday. The company has a market capitalization of $57.70 billion, a PE ratio of 57.95, a P/E/G ratio of 3.29 and a beta of 1.48. 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 company’s fifty day moving average is $248.76 and its 200-day moving average is $239.16. Autodesk, Inc. has a 52 week low of $192.01 and a 52 week high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data 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 net margin of 18.21% and a return on equity of 59.41%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADSK has been the topic of several recent analyst reports. Rosenblatt Securities lifted their price target on Autodesk from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their target price on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Stifel Nicolaus raised their price target on shares of Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Citigroup upped their price objective on shares of Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $292.17.

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.