Appleton Partners Inc. MA Cuts Stake in Autodesk, Inc. (NASDAQ:ADSK)

Appleton Partners Inc. MA cut its position in shares of Autodesk, Inc. (NASDAQ:ADSK) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,338 shares of the software company’s stock after selling 341 shares during the period. Appleton Partners Inc. MA’s holdings in Autodesk were worth $6,705,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ADSK. Ables Iannone Moore & Associates Inc. purchased a new stake in Autodesk in the 4th quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Autodesk in the first quarter valued at about $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Autodesk during the 1st quarter valued at about $26,000. Finally, Olistico Wealth LLC purchased a new position in shares of Autodesk during the second quarter worth $26,000. 90.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Autodesk

In related news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,973 shares of company stock valued at $10,106,590. 0.14% of the stock is owned by corporate insiders.

Autodesk Stock Performance

ADSK stock opened at $270.17 on Thursday. The firm has a market cap of $58.22 billion, a P/E ratio of 58.48, a P/E/G ratio of 3.41 and a beta of 1.48. Autodesk, Inc. has a 12-month low of $192.01 and a 12-month high of $279.53. The stock’s 50 day simple moving average is $254.08 and its 200 day simple moving average is $240.36. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Autodesk, Inc. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Royal Bank of Canada upped their target price on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Barclays boosted their price objective on Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Mizuho upped their price objective on Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Piper Sandler lifted their price objective on shares of Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Autodesk 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.