Hartford Investment Management Co. Cuts Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Hartford Investment Management Co. lessened its position in Autodesk, Inc. (NASDAQ:ADSK) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,289 shares of the software company’s stock after selling 257 shares during the quarter. Hartford Investment Management Co.’s holdings in Autodesk were worth $3,928,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Marshall Financial Group LLC lifted its holdings in Autodesk by 0.8% in the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after purchasing an additional 35 shares in the last quarter. Mount Yale Investment Advisors LLC raised its position in shares of Autodesk by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock valued at $551,000 after buying an additional 35 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock worth $1,000,000 after buying an additional 35 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock worth $130,000 after buying an additional 37 shares in the last quarter. Finally, Journey Strategic Wealth LLC boosted its position in Autodesk by 4.6% during the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock worth $247,000 after acquiring an additional 37 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $297.28 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $63.92 billion, a P/E ratio of 58.98, a P/E/G ratio of 3.17 and a beta of 1.43. The stock has a 50-day moving average of $299.71 and a two-hundred day moving average of $282.64. Autodesk, Inc. has a 1-year low of $195.32 and a 1-year high of $326.62.

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

Analyst Upgrades and Downgrades

ADSK has been the subject of a number of recent research reports. Macquarie initiated coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price on the stock. Rosenblatt Securities lifted their price objective on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America upped their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, Robert W. Baird upped their price objective on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.77.

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.