Autodesk, Inc. (NASDAQ:ADSK) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. cut its stake in Autodesk, Inc. (NASDAQ:ADSK) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,929 shares of the software company’s stock after selling 30,993 shares during the period. Autodesk accounts for 4.1% of Ninety One North America Inc.’s investment portfolio, making the stock its 6th largest holding. Ninety One North America Inc. owned about 0.16% of Autodesk worth $84,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ADSK. Norges Bank bought a new stake in Autodesk in the fourth quarter valued at approximately $426,374,000. Price T Rowe Associates Inc. MD boosted its holdings in Autodesk by 480.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock valued at $371,621,000 after acquiring an additional 1,477,770 shares during the last quarter. Meritage Group LP bought a new stake in Autodesk in the third quarter valued at approximately $170,972,000. Los Angeles Capital Management LLC boosted its holdings in Autodesk by 4,112.0% in the third quarter. Los Angeles Capital Management LLC now owns 446,047 shares of the software company’s stock valued at $92,292,000 after acquiring an additional 435,457 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Autodesk by 48.0% in the fourth quarter. Baillie Gifford & Co. now owns 1,322,121 shares of the software company’s stock valued at $321,910,000 after acquiring an additional 429,071 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

Insider Activity at Autodesk

In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the sale, the director now directly owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. In the last three months, insiders sold 46,220 shares of company stock valued at $11,933,231. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ADSK. Oppenheimer increased their price target on Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Barclays increased their price target on Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Piper Sandler increased their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. KeyCorp increased their price target on Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Piper Sandler Companies increased their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.44.

Autodesk Stock Down 3.3 %

NASDAQ ADSK traded down $7.09 on Thursday, reaching $207.83. The company had a trading volume of 1,861,084 shares, compared to its average volume of 1,382,658. The stock has a market capitalization of $44.45 billion, a P/E ratio of 51.05, a P/E/G ratio of 3.14 and a beta of 1.43. The company’s fifty day moving average is $253.88 and its 200 day moving average is $235.09. Autodesk, Inc. has a 52-week low of $188.38 and a 52-week high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. Sell-side analysts anticipate that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

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.